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US Oil Bow Before Bounces-malaysia forex trading time

malaysia forex trading timeHXFXglobal reminds you:

Concerns In Crude Oil Supply Shortage Heats Up, US Oil Bow Before Bounces

malaysia forex trading time-HXFXglobal-Concerns In Crude Oil Supply Shortage Heats Up, US Oil Bow Before Bounces_Technical Analysis

Crude Oil Is Regarded As A Good To Hedge Inflation, Capital Pitches In, Boosting U.S. Oil
Aggressors are recommended to consider marginal Long after pulling back to near 94.190, Target 95.810, Stop-Loss by 93.360.
Non-Aggressors are adviced to wait for better entry after stabilization.
During today’s Asian session, US Oil rose slightly and fluctuated below opening. Yesterday, due to the tension between Russia-Ukraine border still unresolved, and accompanied with International Energy Agency (IEA)’s statement of OPEC+ members being  influenced by insufficient investment and other unfavorable factors for a long time. The rising concerns about crude oil supply shortages, continue to boost oil prices to surge and made US Oil closed with 0.96% up. Earlier today, US Oil kept on rising, showing a volatile and firm trend to Bull. The outlook for crude oil market would highly affected by the geopolitical tensions in Eastern Europe, which consecutively pushes oil prices to appreciate, favoring US Oil to march on. Moreover, as the inflation roars in the United States, Crude Oil is regarded by the market as a commodity that can hedge against inflation, attracting funds to pitch in, what boosted US Oil with additional lift to ascend. Therefore, would forecast US Oil is easier to rise and difficult to fall in the near future.
In 4Hrs range, (5,10,20)Tri-MAs uptrending and aligned to Bull market. Candlestick in correction on top of 5MA with vacillation and white candle. MACD’s longing momentum shrinking, KD flattening. To conclude, US Oil’s current pattern do shows the possibility to perform with correction after the mooning tendency of before.
(Information above is purely personal opinion, and doesn’t represent the platform’s standpoint. This opinion can only be use as reference)

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