Forecast shows oil is in a downturn parallel channel.
If oil stabilize, it will try to reach $45 dolls per barrel which is the 400M moving average, then will be rejected back to the $30-35 dollars.
Oil needs to stabilize in that range for 2021, then try again in 2022 when the supply could be disruptive due to the lack of oil wells drilled in the last 8 years, providing that the continue slow grow in demand continues as predicted.
If those two factors convine forces, we could see prices rising above $100 dolls per barrel, giving bird to the last OIL CYCLE before SOLAR and BATTERIES take over the energy sector for the next 100yrs.
If oil stabilize, it will try to reach $45 dolls per barrel which is the 400M moving average, then will be rejected back to the $30-35 dollars.
Oil needs to stabilize in that range for 2021, then try again in 2022 when the supply could be disruptive due to the lack of oil wells drilled in the last 8 years, providing that the continue slow grow in demand continues as predicted.
If those two factors convine forces, we could see prices rising above $100 dolls per barrel, giving bird to the last OIL CYCLE before SOLAR and BATTERIES take over the energy sector for the next 100yrs.