Will oil price return to trade above $ 50 levels or below $ 30?

Crude oil price analysis

WTI crude oil gained 5% last week to settle at $42.2 per barrel on Friday, the week opening we see crude oil prices continue above 43$, pushed by successful COVID-19 vaccine trials and hopes that OPEC+ would delay by at least three months from January a planned crude output increase. 

Crude oil technical analysis:
Short term bullish as long crude oil remain above 41.10  

Medium-term bullish as long crude oil remains above 38.90+-                                              Long term bearish as long crude oil remains below 58.60+-

Break above 44 will lead again to high prices 47.40-48.30 $ – break down 36.40 will confirm more downs

crude oil chart

cot position map analysis :

Managed Money show sign of changes !!!

crude oil  position

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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