USOIL / 1D
Hello traders, welcome to another market breakdown.
Technical analysis: USOIL has broken the dynamic resistance level indicating more bullish to come.
Fundamental analysis: As the war between the Russian invasion started, more investors tend to invest in USOIL making the price jumps higher, the reason for that is Russia takes the third spot. In 2019, it accounted for 10.53% of global exports, totaling about $115 billion.
The European market is highly reliant on Russian oil exports, as is the Russian oil industry on European imports. In 2020, 48% of oil exports went to Europe. And between 2011 and 2020, oil and natural gas made up about 43% of government revenue in Russia.
Trade safe,
Trader Leo.
Hello traders, welcome to another market breakdown.
Technical analysis: USOIL has broken the dynamic resistance level indicating more bullish to come.
Fundamental analysis: As the war between the Russian invasion started, more investors tend to invest in USOIL making the price jumps higher, the reason for that is Russia takes the third spot. In 2019, it accounted for 10.53% of global exports, totaling about $115 billion.
The European market is highly reliant on Russian oil exports, as is the Russian oil industry on European imports. In 2020, 48% of oil exports went to Europe. And between 2011 and 2020, oil and natural gas made up about 43% of government revenue in Russia.
Trade safe,
Trader Leo.
Order cancelled:
The Daily bar didn't close outside making the assumption of a breakout is false.
Telegram: t.me/BeatTheMarketsetups
Youtube:
m.youtube.com/@beatthemarket4871
Our recommended broker EightCap: join.eightcap.com/visit/?bta=37691&brand=eightcap
Youtube:
m.youtube.com/@beatthemarket4871
Our recommended broker EightCap: join.eightcap.com/visit/?bta=37691&brand=eightcap