We taking our final perspective of oil in this series, please find out 2 previous charts:
Yearly Chart:
Leap Year Chart:
Taking a look at oil over a lifetime we can see the previous recession ATH around $148.341 per barrel.
We touched the trend dating back from 2000 - 2014 (side of the channel), the volatility from the end of 2014 found support 2016 (other side of the channel)
There's been lots of support for this channel on the 2016 side, we haven't broken below it yet besides the COVID anomaly.
What do you guys think?
Lets create a discussion around these charts as oil also contributes towards climate change and plastic in the oceans.
If the oil price is to increase trade becomes more costly, solar and electric becomes more attractive.
Good luck with your trades, have a good day.
Cheers
Yearly Chart:
Leap Year Chart:
Taking a look at oil over a lifetime we can see the previous recession ATH around $148.341 per barrel.
We touched the trend dating back from 2000 - 2014 (side of the channel), the volatility from the end of 2014 found support 2016 (other side of the channel)
There's been lots of support for this channel on the 2016 side, we haven't broken below it yet besides the COVID anomaly.
What do you guys think?
Lets create a discussion around these charts as oil also contributes towards climate change and plastic in the oceans.
If the oil price is to increase trade becomes more costly, solar and electric becomes more attractive.
Good luck with your trades, have a good day.
Cheers
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