Oil, gas and mining

Oil Price in 2019 – Collapse or Surge?

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Oil price in 2019 – Collapse or Surge. Will supply be enough from OPEC, Venezuela and Russia? Will demand from the US, China and Europe rise and with how much? Watch to get the answers!
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Geopolitics will most likely be the main driver of oil prices in 2019. A complicated web of political relations, innovation and the classic factors of supply and demand should provide more volatility in 2019 for traders to be excited about.

We’re currently in a 3 month rally for Brent and WTI Crude, at around $66 and $55 levels respectively but the expectations of bullish and bearish traders are quite surprising. Bulls think this is just the beginning of what they see as a normalisation of prices, somewhere within the $60-70 levels for Crude.

Bears on the other hand are confident the rally has gone for long enough and a correction in the next months and quarters is very likely.

But both sides are keeping an eye on several other strong factors that are starting to show their influence on oil demand across the globe. Solar and wind energy are making giant strides in all major economies and with prices per kilowatt dropping quickly, large companies and states may start looking at alternatives to oil.

In addition to these factors, our Chief Market Strategist David Jones will also add another dimension to the analysis of crude oil prices. A pure oil technical analysis focusing on the support and resistance levels that are closest to our current position, something traders relying on a more emotion-free approach to trading will appreciate. Especially when it comes to determining crude oil entry, stop-loss and take profit levels.

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#crudeoil
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