The Russian-Ukrainian Border Hasn’t Continued To Heat Up, US Oil’s Rally May Be Discontinued
Tensions On Russia-Ukrainian Border Discontinued To Escalate, Premium In Oil price From The Tension May Be Reduced
Investors are recommended to consider marginal Short at market price, Target 88.70, Stop-Loss by 90.00.
The latest U.S. EIA crude oil inventories in the week to February 4 recorded a sharp decrease of 4.756 million barrels, vastly lesser than the forecast of increase 369,000 barrels. The outcome gave favors to oil prices, but the tension on the border between Russia and Ukraine does not seems to continue to rise, as the fact of military conflicts cools down, the pressure has simultaneously accumulates on oil prices, and the premium of oil prices gained from the conflict may be revised downward. On top of that, the negotiations on the US-Iran nuclear deal proceed to develop in great shape, bringing addition bear for the oil prices. Overall, US Oil holds great probability to continue the correction for the short-term.
In 60Mins range, (5,10,20)Tri-MAs tangles. MACD shown decrease by degree in longing moment. KD formed death-cross above 50. In brief, the obvious transition from bull to Bear on candlestick chart in US Oil has provided Investors a clear guidance in direction of transaction, what confirmed the suggestion on going Short for the time being.
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(*Remark: market price aforementioned is limit to the pricing in vicinity to when the article is published, the outdated pricing may or may not be the best for good)