USOIL WTI Crude Oil Trendline

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If you haven`t bought the $94 pullback:

Then you should know that USOIL in on a bullish trendline for this summer.

UBS laid out three reasons for its $125 USOIL this summer:
1. Russian oil exports hurt by sanctions, which will further tighten global supplies.
2. Spare capacity brought in by OPEC is less than 2% of global demand.
3. Global oil demand still heading for record highs with Europeans and Americans returning to normal travel patterns once COVID-19 restrictions are lifted.

Looking forward to read your opinion about it.