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USOIL Falls Down First Then Rises Up-trusted trading apps malaysia

trusted trading apps malaysiaHXFXglobal reminds you:

U.S. Plans To Ban Russian Energy Imports, USOIL Falls Down First Then Rises Up

trusted trading apps malaysia-HXFXglobal-U.S. Plans To Ban Russian Energy Imports, USOIL Falls Down First Then Rises Up_Technical Analysis

OPEC+ said that the sharp rise in oil prices has nothing to do with supply policy, and has no intention to increase production to suppress oil prices,  bullish for USOIL.
Operation Suggestions
Saneness investors can wait and see first.  Radical investors are suggesting to trade with a buy order in light position when the price pull back to 120.965,  target on 126.965, stop loss on 117.895.
During today’s Asian session, USOIL rose around 1.80% and fluctuated. As Russia announced early this morning that it would implement a “state of silence” in Kyiv, Kharkov, and other places in Ukraine to help civilians evacuate, tensions between Russia and Ukraine have eased temporarily. And Oil prices were hit by disagreements over EU sanctions banning Russian crude imports, with U.S. crude slipping to end the session up 4.68%. Due to the lack of concrete results in the third round of negotiations between Russia and Ukraine, and the announcement of a ban on the import of Russian crude oil by major U.S. lawmakers, a bipartisan legislative outline was reached, bullish for oil price. Superimposed OPEC+ said that the rise in oil prices has nothing to do with its supply policy, the possibility of increasing production was downplayed, and crude oil supply continued to be tight. The bullish trend for the U.S. oil market outlook remains unchanged.
Technical aspect
In the 4-hour K-line chart, 5MA bends down and death cross with 10MA up, 20MA up. The K-line retraced above the 5MA and oscillated into a positive line. MACD histogram slight increase in a negative value, KD indicator down. The trend in the short-term is pulling back and up.
(The above remarks represent personal views and do not represent the platform’s position. Opinions are for reference only)

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