So after i were (more or less) correct about the direction of oil, i wanted to have another look at the future.
I think oil has a little more fuel to go up, but i also see the power of OPEC and them amping up the production, causing a potential fall in the oil prices.
Therefore, i presume, we are going to see a minor downfall in the USOIL chart. im guessing a minor, because we are still in a covering fase in the world, so there are still more oil demand happening.. so only a shorter fall and then up again.
Let me hear what you think :)
I think oil has a little more fuel to go up, but i also see the power of OPEC and them amping up the production, causing a potential fall in the oil prices.
Therefore, i presume, we are going to see a minor downfall in the USOIL chart. im guessing a minor, because we are still in a covering fase in the world, so there are still more oil demand happening.. so only a shorter fall and then up again.
Let me hear what you think :)