Oil the Big picture
Friends
Thanks to @shreekrishna , i got to look at whats happening to Oil trends. Having broken a multi decade support @ 27 $, it now becomes the first resistance to cross and progressing to 50 + over a period of next year or so.
A break out above the descending trend-line can be retested to start charting multi year highs a few years down the line
Investors who are looking to a high risk trade can explore the Global ETF : USO for a play on Oil. Please understand the effects of contango and set your expectations accordingly
Warm regards
Srikanth
Thanks to @shreekrishna , i got to look at whats happening to Oil trends. Having broken a multi decade support @ 27 $, it now becomes the first resistance to cross and progressing to 50 + over a period of next year or so.
A break out above the descending trend-line can be retested to start charting multi year highs a few years down the line
Investors who are looking to a high risk trade can explore the Global ETF : USO for a play on Oil. Please understand the effects of contango and set your expectations accordingly
Warm regards
Srikanth
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