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Crudeoilanalysis

NATO countries-Russia Crude Oil CrisisDelicate situation with Crude Oil. Levels are almost to similar seen back on 2008. The price will definitely continue to rise if EU countries and other NATO countries don't find a new partner for Crude Oil. Venezuela and Iran are amongst the preferred choices to solve this crisis, but this could take a couple of months to see action from talks. Meanwhile the price keeps escalating as the pace as the war fought in Ukraine. We're adding more volume on Crude Oil and other commodities such as Wheat, Aluminium and other commodities affected by this crisis. Right now we don't own any stock, but only commodities, and we'll continue to add more volume as long as this crisis keeps escalating. Regarding technical analysis, it's very difficult analyse it from this angle, it's similar to March 2020 crisis, when this things happen, just take a look 1 weekly and 1 monthly chart with RSI and MACD and keep an eye on extreme levels. At any in the coming months we could see a trend reversal. There is no free meal here, and there's always an expiration date on commodities, don't stay there forever.
NYMEX:CL1!
by alvaromroo
3
US OIL stuck In a trendline resistance. Can it break out? The crude oil price has been on a steady climb this week, with two consecutive increases since the beginning. Today American market has not opened yet, but its possible prices will continue climbing even more tomorrow if they haven't already. But the crude price stuck below the trendline resistance nearly $75.30/barrel. The rise in crude goods is likely due to increased demand out east caused by cold weather and holiday celebrations—the recent production cuts between OPEC members like Saudi Arabia who want lower gas prices. At the same time, other countries need higher profits now instead of later when there might be fewer buyers because everyone needs fuel at some point or another-especially during winter months which require lots of road salt. From the current crude price, $75.30 is the total resistance area. Breaking above $75 will open the door for $85/barrel. On the other hand, as the market holds below the trendline resistance level, it may also correct a little bit to the downside. But fundamentally, I don't think it will drop a lot. It probably won't fall but a lot, but as a correction, it can test moreover $68. Note: Don't go short on Oil as long as fundamental factors support be a higher price, at least during this month.
TVC:USOILLong
by Gold_Trading_Expert
2