86.71 for bulls, 77.82 for bears
Who is going to win the next battle? Will some European or Global leaders call OPEC members to open taps to avoid hurting global recovery?
We have broken out a long term trend and seems that bulls are in control and willing to hit 86.71 - 89 bucks target in line with Goldman Sachs prediction but we never had 8 weeks in a row of uptrend in the recent years. It could also be possible to hit the target and plummet from there to close the week in red. That is a very plausible scenario.
If you look at 2006 you will see a very similar scenario at current level and price dropped 20 bucks and then it went skyrocket to 150+.
I'm sharing ideas but worsening fundamentals are not realloy encouraging for bears and for our pockets, unless you have an electric vehicle :)
We have broken out a long term trend and seems that bulls are in control and willing to hit 86.71 - 89 bucks target in line with Goldman Sachs prediction but we never had 8 weeks in a row of uptrend in the recent years. It could also be possible to hit the target and plummet from there to close the week in red. That is a very plausible scenario.
If you look at 2006 you will see a very similar scenario at current level and price dropped 20 bucks and then it went skyrocket to 150+.
I'm sharing ideas but worsening fundamentals are not realloy encouraging for bears and for our pockets, unless you have an electric vehicle :)
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