Crude Oil Over-extended!
I believe crude oil has been overextended, were the ongoing turmoil between Russia and Ukraine helped the commodity rally further yesterday. Meantime, as Putin backs-off, i believe crude oil could see a meaningful correction, especially that copper remains under pressure. We will probably see a retest of 100.50 support level.
If things escalate again on the political front, that may force prices higher again. At the end of the day, trading is a game of speculation, and never certain.
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thefxchannel.com
If things escalate again on the political front, that may force prices higher again. At the end of the day, trading is a game of speculation, and never certain.
twitter.com/thefxchannel
thefxchannel.com
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Disclaimer
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.