USOIL MARKET OVERVIEW
WTI - OVERVIEW
WTI followed analysis perfectly and tapped $90.70 which was our TP 2 region for 365 pips. WTI saw the reversal back up from here but failed to break the HL and the daily closed fairly neutral. I am somewhat bearish and bullish on WTI.
As explained previously positive Russia news and Iran entering the market will cause a mass sell off and right now we are seeing some of the most bearish price action we have seen in a while all whilst Russia invaded but price failed to break the recent highs, what does that tell you?? It's all a show, bravado and likely nothing will come of it but any FUD will allow for manipulation.
Should Negative news on Russia (FUD) or the Irian and US nuclear fall through it's likely WTI will go higher.
Economies are struggling with rising inflation and with WTI as one of the most impacted commodities society and nations are feeling the burn to the point where it is not becoming unsustainable. WTI needs to come down to counteract this damage and positive media about Russia and Iran coming back to the markets is a perfect way to do this.
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WTI followed analysis perfectly and tapped $90.70 which was our TP 2 region for 365 pips. WTI saw the reversal back up from here but failed to break the HL and the daily closed fairly neutral. I am somewhat bearish and bullish on WTI.
As explained previously positive Russia news and Iran entering the market will cause a mass sell off and right now we are seeing some of the most bearish price action we have seen in a while all whilst Russia invaded but price failed to break the recent highs, what does that tell you?? It's all a show, bravado and likely nothing will come of it but any FUD will allow for manipulation.
Should Negative news on Russia (FUD) or the Irian and US nuclear fall through it's likely WTI will go higher.
Economies are struggling with rising inflation and with WTI as one of the most impacted commodities society and nations are feeling the burn to the point where it is not becoming unsustainable. WTI needs to come down to counteract this damage and positive media about Russia and Iran coming back to the markets is a perfect way to do this.
Make sure you're following us and using the link down below so you can keep fully up to date with us!
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