The price of a barrel of oil in the short term
The price of oil is in horizontal channel in the short term between 35 to 50 dollars.
I. 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.
II. To Medium-term :
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.
III. To the long term ( 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 petroleum 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 oil. satellization barrel.
"Believed in oil, fall is not a reason to fear but opportunity to purchase " John Davison Rockefeller
Dr Thomas Chaize