| Bulletproof Traders in-house trading activities presents our long-term bullish conviction on the Crude OIL. After a 3-week stalemate is looks like the price of Crude OIL is finally back on the move.
The clap down of the new Biden administration on the OIL industry is starting to trigger price reaction. The market begins to digest and acknowledge the new executive orders that posh some serious restrictions on the OIL production, thus cutting down the supply side of the energy market.
As a matter of fact, this is a classic example of a strong alliance between the fundamentals and the technical situation. The next big resistance level also happens to be our primary price target at $65.23.
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