Part 5/10:
Oil: Geopolitical Moves and Price Dynamics
The oil market remains subdued at around $60 per barrel, but technical analysis reveals potential bullish formations. A head and shoulders bottom pattern suggests a possible reversal, while geopolitical developments, such as instability in Venezuela and Nigeria, could catalyze a price surge. The United States appears to be maneuvering to increase influence over oil-rich nations, potentially aiming to control supply and influence prices. This geopolitical chess game could be an underlying factor in oil's future trajectory.