The Situation In Eastern Europe Changes Again, Usoil Fall For Vacillations
There are uncertainties in the war in Eastern Europe, and oil prices are in volatile situation.
Investors are recommended consider marginal short at the price of 95.70. With Target 98.40, and stop loss by 94.50.
According to the plan, the member countries of the International Energy Agency will coordinate the release of a total of 120 million barrels of crude oil inventories in the next six months to make up for the crude oil supply gap caused by the Ukraine-Russia war, and to cool down international oil prices. The coal embargo in Russia has prompted the demand for energy-related commodities to rise again by risk aversion demand. In addition, the Russian said that sanctions are like aggression and declaration of war, which further stimulated risk aversion buying. The short-term impact of the Ukraine-Russia war on oil prices is still bullish.
In the D1 range, 5MA and 20MA both went down, KD is bearish. In the 4H range, 5MA and 20MA are both down, KD is bearish, the 60-minute chart is 5MA and 20MA both went down, KD is bearish. The overall trend is still not out of volatile situation. However, the decline has slowed down, and there may be a short-term rebound.
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Disclaimer: Information above can only be use for references and doesn’t represent our platform’s opinions.