malaysia forex trading time–HXFXglobal reminds you:
Ukrainian-Russian War Arouses Concern, Oil Prices Continue Shock
Ukrainian-Russian War Has Affected Russia’s Crude Oil Output, Oil Prices Have Been Rised By Risk Aversion.
Current trends are benefit in bullish side, investors are suggesting to trade with a buy order in a low position, trade in around 102.60, take profit on 105.25, stop loss on 101.20.
Yesterday’s the EIA data showed that crude oil inventories surged by about 9.382 million barrels, an increase of 2.3%, but gasoline inventories fell by 3.648 million barrels, the largest decline since the week of October 15, 2021. This means that gasoline demand has gradually returned to normal levels. Although crude oil inventories have increased significantly, but it is still not as good as the impact of Russia’s production gap, which makes Russia’s energy more threatening. In the short term, oil prices will be pushed up by risk aversion buying. It is because the market is facing a supply gap that is difficult to fill.
In Daily range, both of the 5MA and 20MA are turning up, KD is biased towards the bullish side. In the 4-hour K-line chart, both of the 5MA and 20MA are turning up. KD neutral. In the 60minutes K-line chart, 5MA bend down and 20MA up, KD is biased towards the bearish side. Although in the short-term gains slow down, but the rebound trend has not been destroyed, it is still possible to turn up in bullish side .
(The above remarks represent personal views and do not represent the platform’s position. Opinions are for reference only)
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Disclaimer: Information above can only be use for references and doesn’t represent our platform’s opinions.
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