malaysia forex trading time–HXFXglobal reminds you:
Would Bearish Factor Hindering The Rebound? How Would The USOil Market React Today?
USOil fluctuated and corrected, Is there any chance of a counterattack??
Aggressors are recommended to consider marginal Long above 84.10, Take-Profit at 87.08, Stop-Loss by 82.78. Non-Aggressors are advice to await for better entry.
The previous value of EIA crude oil inventories in U.S. (10,000 barrels) in the week untill January 14 was -455.3, the market expected value was -93.8, and the announced value was 51.5. The announced value is more than expected value, indicating that the depletion of official crude oil inventories last week was not as good as market expectations. However, short-term bearish suppression does not necessarily turn USOil trend to bearish, and OPEC’s crude oil production capacity may not keep up with the rapidly rebounding global demand. In addition, the international geopolitical disputes continue, and there are relatively many supporting factors for USOil at present, and the opportunity for a rebound in the day is still not to be underestimated.
In 1Hr range, the candlestick may soon to form the minor doubled-bottom rebounding layout. KD uptrend, attracting Buyers to seek for the entry. To conclude, a swaying apt rebound state for USOil.
*Information above belongs to 3rd party media comments, can only be use for references and doesn’t represent our platform’s opinion. Investor should maintain sole-determination, self-evaluation required and be responsible for own action.
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