Baxia Markets
January 27, 2022

US Oil could find a pullback

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The energy commodity is on an uptrend since early December 2021, the pair has consistently kept the trend with a few retracements along the way, the short and long-term moving averages continue moving up and trading below the price line, which is a good indicator that the uptrend would continue.


The Bollinger bands are very wide and this will allow the pair to continue moving up. The price trades closer to the upper band but since they continue expanding it is likely that the pair will continue to move up.


US Oil Jan 25th 2022


The relative strength index is at 67%, very close to entering an overbought status, which would bring the price down a few points in the short term; however, the uptrend is likely to continue in the mid-term 


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energy, commodities, trading conditions, technical analysis, trading indicator

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