Russian Troops Enters Ukraine, US Oil Skyrocket
V.Putin Announced The Recognition Of The Nations In E.Ukraine, Boosting Oil Prices
Investors can consider marginal Long at market price, Target 94.20, Stop-Loss by 92.70.
As Russian President V.Putin announced that the recognition of the two republics established in eastern Ukraine and ordered Russian troops to enter eastern Ukraine to carry out peacekeeping missions. The tension on the border between Russia and Ukraine has reached its peak, and the supply of crude oil and other commodities may be severely disrupted, bringing strong upward momentum to oil prices. Moreover, the Russian official said that there was no consensus of the US-Russian leaders summit, so the tense situation in the short term may be difficult to cool down. Overall, the short-term trend of US Oil is expected to maintain it’s strong bullish pattern.
In 60Mins range, (5,10,20)Tri-MAs aligned to Bullish trend. MACD’s longing momentum gradually reduced. KD twisting on top of 50. To conclude, US Oil may occur with minor correction after the emergence of the surge. Even though US Oil is slowing it’s pace down, but what still holds great support underneath. Hence, would still recommend Investors to consider Bargain-Hunt for marginal Long while the correction is in force.
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(*Remark: market price aforementioned is limit to the pricing in vicinity to when the article is published, the outdated pricing may or may not be the best for good)