Do you think that it will reach the price 27,80 and then we could buy it and hold it until the new contract expires until July.I think it will rise to 45,50 until july.We will see about it.Because of the new Opec deal.
@TayFx, Briefly in words
- 28 has shown to be a support and resistance a few times since march
- further using fib from the bull session which started around 24; the 0.618 is also at this zone
- from what i saw there was also a bearish flag earlier
- us-china tensions are rising which is always bad news for oil
- long weekend ahead
- profit taking
- if we reach 28 I would imagine we then begin a very strong bullish run, there is ofc the possibility we break this and go down further but with all the influence in oil ATM It's a tough one...