This Factor Ignited The Rebound of US Oil, Can The Market Maintain The Rally?
US Oil Surges, How Would The Market React Today?
Aggressors are recommended to consider marginal Long above 84.50, Take-Profit at 86.87, Stop-Loss by 82.90.
Non-Aggressors are advice to await for better entry.
Tensions in Eastern Europe remain unresolved. As the United States failed to mediate the tense relations between NATO and Russia previously. The breakdown of the negotiations caused the United States to impose economic sanctions on Russia’s high-level officials. However, Russia has yet pull its troops back from the Ukrainian border. Tensions are temporarily unresolved; On the other hand, Yemen Houthi Armed Groups has launched five ballistic missiles and several drones to attack the airports in Abu Dhabi and Dubai, oil refineries and the other important targets in United Arab Emirates. As the war was just on the thread within these major oil production region, the purchase and demand of US Oil continued to advance. The geopolitical tension is conducive to the Buyers in US Oil, and the idea of going Long position along the trend remains unchanged.
In 2Hrs range, the candlestick could potentially complete the minor doubled-bottom rebounding tendency, and would be in favor for the short-term Bull layout. KD uptrend, attracting the Buyers to intervene the market. Overall a swaying Bullish pattern is comfirmed.
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