Good day everyone,
I'm very bullish on oil. I'm day-trading oil futures contracts upcoming months till it reached around 100 usd.
- The reason why I'm so bullish on it:
From TA perspective: We did break and hold above a huge wedge. And we're looking for new highs now.
From fundamental perspective:
- OPEC agreed to not raise oil production upcoming months;
- Saudi Arabic is not increasing their oil production as they did in the past against OPEC agreements;
- Current oil production is far lower than oil production before the corona crisis;
- Oil demand in China, US and especially India is rising quickly;
- Corona vaccins starting to pay-off with boosts traveling, economics and production.
Conclusion: My expectation is that the oil demand will be way higher than the oil production. The agreement of the OPEC for not increasing oil production will create a shortage in oil. This with will push the OIL price to new highs.
I'm very bullish on oil. I'm day-trading oil futures contracts upcoming months till it reached around 100 usd.
- The reason why I'm so bullish on it:
From TA perspective: We did break and hold above a huge wedge. And we're looking for new highs now.
From fundamental perspective:
- OPEC agreed to not raise oil production upcoming months;
- Saudi Arabic is not increasing their oil production as they did in the past against OPEC agreements;
- Current oil production is far lower than oil production before the corona crisis;
- Oil demand in China, US and especially India is rising quickly;
- Corona vaccins starting to pay-off with boosts traveling, economics and production.
Conclusion: My expectation is that the oil demand will be way higher than the oil production. The agreement of the OPEC for not increasing oil production will create a shortage in oil. This with will push the OIL price to new highs.
Not
Looking good :)
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.