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Crude Oil Prices – Will They Hold Above Key Support Level Or Begin To Unwind?


Talk of a Global Recession may prompt a broad decline in Crude Oil prices as the excesses of the past 10+ years unwind. This unwinding process pushed to the forefront for traders and investors has been prompted by a massive inflationary expansion after the COVID-19 lockdowns. How will it play out in the short-term and long-term?

I believe Crude Oil will contract as the initial reduction in demand associated with high-priced gasoline and oil products and the threat of a Global Recession recede. This decline in Crude Oil prices is complicated as China/Asia economic and COVID crisis events continue to disrupt consumer discretionary income and asset valuation levels.

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