Crude Oil Check

Generally, the  crude oil price tends to hold up for few weeks, before giving a pronounced break out in either direction.

In the current scenario, the crude oil price is breaking one levels after another, since the war drums in Europe sounded.

Taking cues from this, we can say that crude prices may hover between $106 - $113, for sometime, before giving a decisive breakout on the upside. Photo: Macrotrends.com.

The war Between Ukraine - Russia will go on for atleast a few months, with sanctions crippling the 2nd biggest producer of crude oil. 

I feel it is pertinent to mention here that generally speaking, after - effects of sanctions generally come with a couple of months phase gap. Which means the crude oil may start to march aggressively ahead towards north, from May 2022 end.

I'm expecting the crude oil to touch at $130 a barrel in the near future, breaking which it may try to access $137/139 range.

Hence, take your position in crude oil related (drilling, exploration, seismic survey, etc) companies to reap good gains by the end of this year.