Oil is now headed to the $113-15 zone.
We expected retracements as deep as $92 per barrel but price reluctantly rallied. But still it's going as planned. If mitigates the target zone and falls, we might see a good downfall.
China easing lockdowns, Russia exclaiming that the peace talks is a dead end is signaling the increased demand and reduced supply. So, even fundamentals favor for price to rally.
We expected retracements as deep as $92 per barrel but price reluctantly rallied. But still it's going as planned. If mitigates the target zone and falls, we might see a good downfall.
China easing lockdowns, Russia exclaiming that the peace talks is a dead end is signaling the increased demand and reduced supply. So, even fundamentals favor for price to rally.