Are global oil prices facing an increase ,and what we have seen so far is only the beginning

Crude Oil Analysis

Crude oil hits four-month highs, OPEC said in its latest monthly oil market report its total production last month had fallen to 30.8 million barrel, it  was in large part driven by Saudi Arabia’s efforts to accelerate the price rise by cutting more-pumped 350 K  less oil in January than in December
Goldman Sachs also promotes updates and said OPEC cuts will drive prices higher as they turn out to be deeper than expected and as they combine with stronger demand that will reduce inventories.
 oil price analysis
Crude oil chart

Crude oil Technical analysis

is the first time that price has traded above the white band! After the big jump last month, the trend has changed to bearish and 42 $ oil price level became support level, now we need to watch on 54 -56$ price area that may become short resistance area, if 51$ will break down break  then we will see 48-49 $ price while crossing up and stay above 54.80$ price level  will send crude oil to cope with the 58-59_ price level, while stay below  48 $ those levels will  show us that this was just a correction  for the  big journey down oil experience since 76$

Crude oil price  analysis
Crude oil  analysis

This review does not include any document and/or file attached to it as advice or recommendation to buy/sell securities and/or other advice

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