The oil price made its new higher high at $ 129.40 two weeks ago on March 8; the previous high from 2011 was $ 114.81.
The current consolidation is around $ 110.00, and if we plan to continue the bullish trend, we should go back above $ 120.00.
If that happens, the price needs to be kept in the $ 120.00 - $ 150.00 zone.
Potential positive consolidation could break above $ 150.00 and form new historical highs.
The current all-time high is $ 146.73 per barrel of oil in 2008.
We have support for the bullish trend above in the zone of $ 95.00 -100.00 below that we enter the bearish trend.
The green agenda is not possible with the low price of oil and other fossil fuels, and our target in the coming period is $ 200.00 per barrel of oil.
The current consolidation is around $ 110.00, and if we plan to continue the bullish trend, we should go back above $ 120.00.
If that happens, the price needs to be kept in the $ 120.00 - $ 150.00 zone.
Potential positive consolidation could break above $ 150.00 and form new historical highs.
The current all-time high is $ 146.73 per barrel of oil in 2008.
We have support for the bullish trend above in the zone of $ 95.00 -100.00 below that we enter the bearish trend.
The green agenda is not possible with the low price of oil and other fossil fuels, and our target in the coming period is $ 200.00 per barrel of oil.
