Oil slowly heading to the target BUT...
This week was necessary to pullback from the record high of recent years and after 9 weeks of green candles.
This week looks like it will end up in red but do not kill the bulls yet. All the efforts done by OPEC+ to prop up prices won't be easily gone unless a new spread of covid or Iran sanctions are waived.
Fundamentals remain tight or at least that is what they want us to believe.
All the best. Cheers
This week looks like it will end up in red but do not kill the bulls yet. All the efforts done by OPEC+ to prop up prices won't be easily gone unless a new spread of covid or Iran sanctions are waived.
Fundamentals remain tight or at least that is what they want us to believe.
All the best. Cheers
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