Biden Once Again Admonish The Risk Of War, US Oil Bullish
Biden once again exaggerated the risk of war, and the tension between Russia and Ukraine has not eased, which is beneficial to US oil.
Aggressors are suggested to consider marginal long after the price pulls back to 89.20, target 92.30, Stop-loss by 87.60.
Although it was reported this morning that the foreign ministers of the United States and Russia will meet, the US State Department said that the premise of the meeting is that Russia does not invade Ukraine. U.S. President Biden once again exaggerated the risk of war yesterday, saying that Russia is very likely to strike in the next few days. At the same time, Russia expelled Gorman, the US deputy ambassador to Russia, on Thursday, which shows that there is no actual sign of reconciliation between Russia and Ukraine. Relevant institutions believe that the rising geopolitical tensions will further promote the rise in commodity prices. Therefore, considering the above factors, the US oil market will fluctuate and be bullish
In the 4-hour K-line chart, the K-line is currently running below the middle rail of the Bollinger Band in a shock pattern. The KD indicator is falling, and the bearish momentum of the MACD indicator still exists. Since the K-line has not yet fallen below the front support, the overall is judged to be a shock and consolidation of the market. It is recommended to go long on dips.
Information above belongs to 3rd party media comments, can only be used for references and doesn’t represent our platform’s opinion. Investors should maintain sole-determination, self-evaluation required and be responsible for their own action.