The price of a barrel of oil in the short term
February 18th, 2009
The price of oil is in horizontal channel in the short term between 35 to 50 dollars.
To short term (1 to 3 months) :
Out of the $ 50 resistance: bull signal, $ 65 minimum target.
Out of support for $ 35: bear signal, $ 20 target.
To Medium-term (2 years) :
The price of oil barrel is building a foundation on the $ 35, the strength of this support must be monitored.
The severance of $ 35 is "possible" and not "probable." This breakdown of $ 35 would result in a decrease in the area of $ 20 a barrel. Ultimately this would have a devastating effect on the long-term production.
To the long term (5 years): Violent consolidation to these recent months does not affect the upward trend in the long term.
We have seen a small drop in global demand accompanied by a violent collapse of oil prices, now it destroyed new projects.
We will then assisted the opposite scenario, ie a small decrease in supply and prices satellization barrel.
"Believed in oil, fall is not a reason to fear but opportunity to purchase "
John Davison Rockefeller
Dr Thomas Chaize
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February 22nd, 2019
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