Oil new super cycle?
This is just an idea, but an interesting idea!
In any case, the pressure has eased considerably from the last high in prices. In any case, we can expect further recovery steps.
So it seems as if the Fed's tactics are working
- short.
If we are dealing with a recovery here, it does not mean that we have to maintain this level.
If OPEC continues to produce less, as they have announced, and if inflationary pressure increases, we can expect even higher prices in the long term.
The idea of my chart technical picture is very abstract but conceivable that we are in an overall uptrend which is now in a consolidation.
In any case, the pressure has eased considerably from the last high in prices. In any case, we can expect further recovery steps.
So it seems as if the Fed's tactics are working
- short.
If we are dealing with a recovery here, it does not mean that we have to maintain this level.
If OPEC continues to produce less, as they have announced, and if inflationary pressure increases, we can expect even higher prices in the long term.
The idea of my chart technical picture is very abstract but conceivable that we are in an overall uptrend which is now in a consolidation.
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