MARKET NEWS

Latest Articles

    Featured Articles

    Filter By Topic
    Baxia Markets
    By
    June 08, 2022

    US Oil continues rally

    technical analysis top header -01

    The energy commodity continues moving upwards and could reach $123 in the upcoming sessions. The pair trades above the short and long-term moving averages strengthening the uptrend signals. 

     

    The Bollinger bands are wide and they continue moving upwards which is a sign that the uptrend is expected to continue in the short to medium term. The price could potentially encounter a resistance level at the upper band which is currently at $123.82, if the bands continue expanding, this resistance will be set further away from the current price.

     

    US Oil June 7th 2022

     

    The relative strength index is at 64% which some investors might see as a threat, once the pair gets closer to the overbought status at 70% they might start closing long positions. The price is likely to pull back if it enters the overbought status, but we believe it could be temporary and allow XTIUSD to gather more strength and resume the rally. 

     

    We love to hear new ideas from traders and want to know what you think! 

     

    If you like this topic and want to suggest future topics that you find helpful, let us know by clicking the ‘submit your feedback’ button below.

     

    Try Risk-Free Demo  

     

    Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. 

     

    Nothing contained in this website should be construed as investment advice. Any reference to an investment's past or potential performance is not, and should not be construed as, a recommendation or as a guarantee of any specific outcome or profit.

    Subscribe by Email