"The price move up has been far too aggressive in too short a time. The charts are telling us the oil price needs to do some digesting before it can move substantially higher," said Michael McCarthy, chief strategy officer at Tiger Brokers Australia.
Note
If all of Russia's oil exports were blocked from global markets, analysts have said prices could rocket to $200 a barrel, while Russia's deputy prime minister said oil could soar to more than $300.
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.