Given recent news that OPEC was going to be cutting production, the markets are already planning for constricted supply. If demand is to increase, anyone who paid attention in Economics class should know what happens next.
Equally interesting, an enormous inverted head-and-shoulder pattern has formed over the past year and is looking to be nearly complete.
A trader with more experience than myself informed me that Oil does not generally follow technical or fractal patterns of the markets due to the degree of political control involved in the market.
Normally, this would be very bullish situation where fundamental and technical market analysis meet and point in the same direction.
Additionally, the pending collapse of Deutsche Bank at the same time is quite 'black swan-y' in my very unprofessional opinion.
My recommendation? Stock up on popcorn, fresh water, food, ammunition, gold, bitcoin, Steem, and batteries. Interesting times ahead.
Not only is OPEC cutting production but more states and even entire countries are banning Fracking. With Vermont and New York already on this Maryland recently signed on and now so has Scotland. This coming year Florida and California are getting ready to vote on the ban. With all this prospective oil production being shutdown it's only leaving the market one way to go.
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