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Oil prices rally to stop these days

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  • Oil prices rally to stop these days

    The economy is restarting and you can see this as check the oil prices graph. It is going up and up the last days and especially in the last two days. The WTI price climbs to $33.05 after the negative prices last month.
    The oil prices may found a good resistance at the current level of $33.05 and if move up the next resistance may stop the rising prices at $36.50. The economy could not recovery so fast also there are many big volumes stored oil. All these factors could stop the price and back to levels of $22 up to $29 in the next 2-months. strategy is to place new orders in the coming days into short positions.
    The oil prices in the last few days follow the stock optimism and are very high value in the current situation.

  • #2
    This asset has always been and still is in demand, because this is what most of the time is an indicator of a strengthening economy and leads to the development of many economic sectors. I think it is necessary to look at the situation more broadly and understand the specific reasons for the asset value increase. Usually, this is not only due to a deficit, but also to some long-term economic decisions, which will lead to an increase in demand for this asset or to more restrained production. But I think it will be clear in the near future. And we will understand exactly how actively we will be able to use it in the near future and whether we should focus all our attention on it.


    • #3
      In my opinion, the economy is not restarting, but continues to go down. Oil prices are under huge influence of OPEC countries, so I would doubt that there is a free market when it comes to oil which can signal actual recovery of economies