I believe we are about to see the oil price break upwards and out of the symmetrical triangle, usually this happens on a spike, and we will see how far it reaches, but could be the definition of a long term bottom.
Overall i believe that 20$ is the bottom, as it is the last fib level, and fundamentally it is not sustainable for producers.
This is my guess, this is not advice, merely my point of view atm, always do your own DD, happy trading.
Overall i believe that 20$ is the bottom, as it is the last fib level, and fundamentally it is not sustainable for producers.
This is my guess, this is not advice, merely my point of view atm, always do your own DD, happy trading.