Daily strategy, Signal of Investment

US Oil Teeters-trusted trading apps malaysia

trusted trading apps malaysiaHXFXglobal reminds you:

Concerns In Pandemic Impacting Energy Demand Re-Ignited, US Oil Teeters

trusted trading apps malaysia-HXFXglobal-Concerns In Pandemic Impacting Energy Demand Re-Ignited, US Oil Teeters_Technical Analysis

Libyan Oil Pipe Maintenance Project Completed. Libyan Crude Oil Production Restored, Detriments to US Oil
Aggressors are recommended to consider marginal Short at around 79.405, Target 78.275, Stop-Loss by 79.975. Non-Aggressors are advice to await for better entry.
As US Oil marginally rebounded above the opened prices with vacillation this morning, owing to the NonFarm Payroll from last Friday. The unsatisfied result has impacted the oil price. In addition, as FED were expected to raise the interest by March, suppressed the Stock Market with detrimental outcome to drag the recovery in economic. This has made the concerns heats up in crude oil demand to reduce. As the result, US Oil closed with the scope of delclination by 0.98%. The aftermarket US Oil got boosted by the fact that Libyan crude oil output recovers as maintenance works on Libyan crude oil pipeline are completed. In addition, the new confirmed cases in Australia has accumulated to near 100,000 cases in a day, made the Parliament to re-implement the restriction measures. The rebound in Covid has severely affected the concerns in crude oil demand. Not to mention about the political tensions in Kazakhsta. As the prices on crude oil and natural gases export progressively stabilized, the outlook of US Oil is recognized with Bearish projection, due to the excalation on risk in depreciation.
In 4Hrs range, 5MA flattens and closing to the downtrending 10MA. 20MA on climb. Candlestick dips through 10MA with negative Doji Star. MACD shown expansion on negative column. KD downtrend. Overall looking, a swaying Bearish prospect for US Oil.
(Information above is purely personal opinion, doesn’t represent platform’s standpoint. This opinion can only be use as reference)

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