On the top, we can see a rising wedge and we already break out the resistance line.
waiting for 23.6-32.8% level Fibonacci
The additional shift of workers to remote work is a bad prospect for the oil industry. This means that tens of millions of people in developed countries will greatly reduce the movement of their cars.
Only this factor for 2021 means a decrease in world oil demand by 0.4-0.8 million barrels per day (or 0.4-0.8% of oil consumption).
Best regards EXCAVO
waiting for 23.6-32.8% level Fibonacci
The additional shift of workers to remote work is a bad prospect for the oil industry. This means that tens of millions of people in developed countries will greatly reduce the movement of their cars.
Only this factor for 2021 means a decrease in world oil demand by 0.4-0.8 million barrels per day (or 0.4-0.8% of oil consumption).
Best regards EXCAVO
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