With the current turmoil of the ukraine vs russia pre ww3 war has caused a major spike in oil cost.
the price of oil has increased by $60+ in the 1st qtr of 2022 alone.
the march spike of $127 comes as no surprise as big v.p (putin) has been holding his reserves by the nuts.
monthly close of $104 looks promising
look for oil to retrace in april back to test sub $100 barrel levels but i believe by may-june oil will soar once again about the $127 impulse to touch $150 and create a new ath.
remember this is payback for the pandemic when we saw oil go to $0 a barrel 04/01/2020
payback is a bitch just know.
the price of oil has increased by $60+ in the 1st qtr of 2022 alone.
the march spike of $127 comes as no surprise as big v.p (putin) has been holding his reserves by the nuts.
monthly close of $104 looks promising
look for oil to retrace in april back to test sub $100 barrel levels but i believe by may-june oil will soar once again about the $127 impulse to touch $150 and create a new ath.
remember this is payback for the pandemic when we saw oil go to $0 a barrel 04/01/2020
payback is a bitch just know.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.