FUNDAMENTALLY: Oil being a commodity is a safe play during any bear market or market crash. The talk about a future market crash is inescapable. Post COVID we saw a REACTION, not a “crash” I believe we will now see a true market crash post COVID.
Alternatively the world is looking to go green, stretching their arms to reach for greener projects. However, it’s never the case that everyone succeeds perfectly.
METAPHOR: For example, say you have a classroom of straight A students, and you give them paper and pencils and tell them to do a difficult math problem set for you, they might all finish in the time frame some may take extra time but they will all write with that pencil and erase. The lead is clean energy use the eraser oil energy use. Everyone needs to erase.
Oil prices are on the steady rise and the shortage is growing. We don’t have enough green energy to support ourselves. People NEED oil .
TECHNICALLY: There are much higher price points we see GUSH hit pre COVID. And I think we could be hitting half of those price points in the near future.
The cup with handle pattern = strong bullish pattern , and the Adam and Eve bottoms support it.