Oil nicely moves in the zig-zag up-trend toward $100. Meanwhile, it should first break $85 psychological resistance if it can stay bullish this week. Then, if all other conditions remain the same (OPEC+, shortage, gluttony), it will move to climb on a higher price.
Note
USOIL is breaking the resistance. If it closed above the previous resistance, i.e., $83.71, we would see a move toward $85 by the end of this week. We may see $100 by the end of the year, which is more likely now.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.