Oil will hit $85 by end of Oct (or Oct 19th)

14. Okt. 2021

Oil nicely moves in the zig-zag up-trend toward $100. Meanwhile, it should first break $85 psychological resistance if it can stay bullish this week. Then, if all other conditions remain the same (OPEC+, shortage, gluttony), it will move to climb on a higher price.

19. Okt. 2021

Anmerkung

USOIL is breaking the resistance. If it closed above the previous resistance, i.e., $83.71, we would see a move toward $85 by the end of this week. We may see $100 by the end of the year, which is more likely now.