If we break the $55 handle $70 is eligible target
please see chart
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OPEC not extending cuts beyond 6-months is bullish for oil prices
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happy new year
Goldman Sachs expecting $59-$60 early 2107, I am still holding my longs (long term investment low margin positions from $44.5 and $45.6)
I wont recommend oil day trading as I am expecting complex correction with sharp dips toward the high 40s after we touch the 60 handle, remember that we are in corrective mode, 2016 was good to me, let us hope for a good 2017 as well