As we know the USOIL avaragae price is around $55, but after the Coronavirus popular in America and Europe, the demand of oil was dropped very quickly.
In the same time Russia and MidEast county still in price war. that make oil prices to the cool point.
But we can see from this chart, the oil price is back to the drop point area.
And the virus issue seem to end, after read the EIA and API 's report ,we can see the supply is shortly.
So I get this conclusion : the price of oil will shake around 41 to 30. but will goes up eventually.
If we focus on the short term, will find that if the price of oil can not stand on 39.096 after European market time, the price will go through 38.162 or lower.
In the same time Russia and MidEast county still in price war. that make oil prices to the cool point.
But we can see from this chart, the oil price is back to the drop point area.
And the virus issue seem to end, after read the EIA and API 's report ,we can see the supply is shortly.
So I get this conclusion : the price of oil will shake around 41 to 30. but will goes up eventually.
If we focus on the short term, will find that if the price of oil can not stand on 39.096 after European market time, the price will go through 38.162 or lower.