The final price will determine if you make money or not, so keep that in mind.
The West Texas Medium Crude Oil Market has rebounded from a significant downward trend over the past several months. At this point, the question is whether that trend will follow or not, but are we becoming more of a threat to the world economy?
Oil prices are making huge business opportunities
For oil markets, numbers have not been strong for some time. But there are indications that oil prices will continue to rise as the global economy reopens. While that may have some meaning, the fact is that before we get here, the market is very crowded. In fact, when everyone talks about a high-end market, they already miss out on the activity.
Since all this nonsense is circulating on financial channels and news outlets, all I can do is follow the right pricing action. If we can close more than $ 70 in daily closing, and significantly, then I am willing to buy this market to send it to $ 74. On the other hand, if we get below the $ 67.50 level, I think we will go to $ 65, maybe even 200 days’ em. That’s a really interesting area, so I guess buyers will come back.
Pay attention to the US dollar, there will be a certain amount of oil prices, but it should be noted that the recent highs have been the same as the recent lows. When some people shout for a high price, the market seems out of place and at the end of the day I have to listen. This is just as true today as it was then. I don’t have time to argue with the market, and with all the noise there, it is almost impossible to weed out what is necessary and what is not. The final price will determine if you make money or not, so keep that in mind.