The overall trend for AUDCAD is bullish. Price seems to have broken previous high which is also a resistance level between 0.90693 and 0.90481. Price is likely going to make a pullback or retracement after testing the resistance level between 0.91499 and 0.91315 to the upward trendline. The RSI is almost in the overbought level which indicates a possible reversal after price reaches the resistance zone.
The American Petroleum Institute reported late Tuesday that U.S. crude supplies fell by 2 million barrels for the week ended Feb. 4, according to sources. The API also reportedly showed weekly inventory declines of 1.1 million barrels for gasoline and 2.2 million barrels for distillates. Crude stocks at the Cushing, Okla., delivery hub edged down by 2.5 million barrels last week.
The overall trend for UKOIL is bullish. Price is reacting to the support zone between 91.31 and 90.60 after making a pullback to the region. There seems to be confluences between the FIBO golden levels, the 50 EMA and the upward trendline within the zone. We could also see that the RSI and MACD are above the centreline which indicates price continuation to the upside.
Russian President Vladimir Putin will have to pay the price if he were to “weaponize” gas supplies to Europe as Russia-Ukraine tensions rise, says energy expert Dan Yergin.
As such, the more likely scenario is that gas supplies could be disrupted because of violence in the region, rather than as a result of being weaponized.
From the overview of price, the, price of natural gas seems to have made a deep pull back to the support level between 4.194 and 4.030 which has confluences between the 50 EMA and the FIBO retracement golden levels. The RSI and MACD are above the centreline which indicates a possible bullish move.