Oil Price Advances Once Again-which online trading platform is best in malaysia

Increase Production Plan Remain Unchanged From OPEC, Oil Price Advances Once Again

which online trading platform is best in malaysia–HXFXglobal reminds you:

Minor Impact From Omicron Hazard, OPEC Resolved To Maintain Their Increase Production Plan
【Strategy】
US Oil has yet to detach from the swaying pattern, hence, would recommend Investors to consider Bargain-Hunt for main concept. Entry on 76.40, Take-Profit at 78.00, Stop-Loss by 75.50.
【NEWS】
As US Oil marginally appreciated to 77.63 yesterday. This was caused by the infection over Omicron is mainly focusing on the upper respiratory system, in comparison with the severe and death cases over Delta, Omicron shows lower level of danger to the market. Although the infection numbers has rapidly elevated, but about 95% of all confirmed cases were from Omicron, therefore, made OPEC believe the impact to the demand over current status on pandemic is relatively mild and temporary, what may possibly made the supply-demand relations to intensify for Q1 2022. In brief, the outlook for US Oil still have the margin and likelihood to uprise.
【Technical】
In Daily range, 5 & 20MAs on climb, KD neutral. In 4Hrs range, 5MA up-crossed 20MA, KD also in neutral state. In 60Mins range, 5MA down-crossed 20MA, KD apt Bear. These indicates the short-pattern on US Oil hasn’t escaped from it’s vacillation layout. However, since the overall tendency remains in Bull, would recognize the potential in US Oil to appreciate for the near future.
(Information above is purely personal opinion, doesn’t represent platform’s standpoint. This opinion can only be use as reference)