Why Oil Prices Could Go Higher Soon

One of the supposed divides amongst traders is that between those who rely on technical analysis, the study of charts and price action, and those for whom fundamentals, the basics of supply and demand in the case of a commodity such as oil, are more important. In reality, traders, or at least those that are successful, use both. Most start with a base case formed by studying fundamentals, then use chart analysis to establish entry and exit points. The exceptions would be those who trade with very short time horizons, where chart reading is far…