Crude Oil prices will make a U-Turn going back up to $130 dollar
The Crude Oil continuous futures contract price chart on a weekly timescale does clearly indicate a consistent sell-off that could be approaching
a technical support area. From where Crude Oil prices can go back up higher to $130 dollars p/b.
Main factors are inelastic demand, while large Oil producers have been full-on supplying Crude Oil.
In this context the OPEC+ format could become unworkable for geopolitical issues, thereby large Oil producers could well decide to continue with their traditional format of only OPEC countries in order to decide in autonomy on their OUTPUT strategies.
a technical support area. From where Crude Oil prices can go back up higher to $130 dollars p/b.
Main factors are inelastic demand, while large Oil producers have been full-on supplying Crude Oil.
In this context the OPEC+ format could become unworkable for geopolitical issues, thereby large Oil producers could well decide to continue with their traditional format of only OPEC countries in order to decide in autonomy on their OUTPUT strategies.
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Declinazione di responsabilità
Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.