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alvaromroo
Mar 7, 2022 10:23 PM

NATO countries-Russia Crude Oil Crisis 

Crude Oil FuturesNYMEX

Description

Delicate 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.
Comments
alvaromroo
Follow us on Tradingview and become a Human Trader! Leave your comments below. Are you long on Crude Oil?
andyscappinimon
@HT_investing, I exited way too early on Oil, do you see we can rally again from here maybe after a pullback?
alvaromroo
@andyscappinimon, I believe so yes. I use the 4 hour chart and MACD to find buying opportunities.
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