66ish selling area again
As always I am only SELLING above 66 and buying below 54.
Price is being supported by massive money but rigs in the USA have been growing as current prices makes them more profitable and the weakness of USD has helped as well.
Summer season approaching and current prices are way to high IMHO that could overkill the Cartel's strategy.
Iran sitting back on the table for possible nuclear deal could add massive amount of oil back to the markets after few years of sanctions.
69-70 USD would be the top of the worst scenario for consumers (not for bulls of course) and anything above 66 is a clear SELL call.
Price is being supported by massive money but rigs in the USA have been growing as current prices makes them more profitable and the weakness of USD has helped as well.
Summer season approaching and current prices are way to high IMHO that could overkill the Cartel's strategy.
Iran sitting back on the table for possible nuclear deal could add massive amount of oil back to the markets after few years of sanctions.
69-70 USD would be the top of the worst scenario for consumers (not for bulls of course) and anything above 66 is a clear SELL call.
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