If we break the $55 handle $70 is eligible target
Updated
please see chart
Note
my view for early 2017Goldman Sachs expecting $59-$60 early 2107, I am still holding my longs (long term investment low margin positions from $44.5 and $45.6)
I wont recommend oil day trading as I am expecting complex correction with sharp dips toward the high 40s after we touch the 60 handle, remember that we are in corrective mode, 2016 was good to me, let us hope for a good 2017 as well
Note
OPEC not extending cuts beyond 6-months is bullish for oil pricesNote
happy new year
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