MARKET NEWS

Latest Articles

    Featured Articles

    Filter By Topic
    Baxia Markets
    By
    March 09, 2022

    US Oil hits 13.5 years high

    technical analysis top header -01

    The energy commodity is off the rails as fundamental factors continue affecting the price of the commodity, US banned all  Russian Oil Imports as well as Natural Gas and Coal which had a massive impact on the energy commodity price.

     

    The Bollinger bands continue expanding aggressively as the price spiked more than 40% in seven days, the price continues trading above the upper band, suggesting that the price is relatively high, the price continues to find new high in more than 13 years, one of the biggest rallies in US Oil history.

     

     

     

    The relative strength index is at 83%, it is likely that the RSI will continue increasing but at this point, the technical indicators have almost no impact on the price of the commodity as fundamental factors are pushing the price upwards. There might be a price correction in the upcoming sessions once the news settle and the markets see more clarity in where this is going.

    US Oil Mar 8th 2022

    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.

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

    Subscribe by Email