Oil making it's way back to $100?
oil drove to $100 due to fear of supply with Russia invading Ukraine. This is the first time oil has hit $00 since 2014, so of course it will not just bust through like we all wish it would. The market needed to correct itself first, pulling back to 90.50.on the 4hr time frame you see a fakeout of the trendline, indicating oil is going to push up some more. it is respecting the current uptrend as of right now. I see oil atleast going to $94 as of right now. I will watch the market and the news before making further decision. on smaller timeframe there is a small bullish divergence indicating a buy is coming as well.
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