USDX
106.631

0.19%

XAUUSD
1826.48

0.30%

WTI
83.532

0.12%

EURUSD
1.05212

0.17%

GBPUSD
1.21537

0.16%

USDJPY
148.469

0.42%

USNDAQ100
14784.97

0.14%

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      Geopolitical Situation Is Bullish, to Long at Lows

      Commodity
      Summary:

      The IEA expects that sanctions may lead to significant production cuts in Russia. It is needed to guard against Russia's sanctions to strengthen the geopolitical support for oil prices. The expectations of slower Fed tightening weaken the financial pressure, boosting the oil demand expectations.

      BUY WTI
      Close Time
      CLOSED

      85.300

      Opening Price

      89.000

      TP

      82.300

      SL

      83.532 +0.102 +0.12%

      3000

      Point

      Loss

      82.300

      SL

      82.295

      Closing Price

      85.300

      Opening Price

      89.000

      TP

      Fundamentals

      Last week, U.S. Treasury Secretary Yellen spoke with U.K. Chancellor Hunt to discuss the implementation of a price cap on Russian oil. In a Nov. 12 interview, Yellen said the price cap has not yet been set, and on Nov. 14, European Commission President Ursula von der Leyen said during the G20 summit that the EU was ready to impose a price cap on Russian oil exports, but that the target price had not yet been set. While sanctions on Russia are important, it is also important to bring oil prices down to an acceptable level.
      EU sanctions against Russia are to be implemented on December 5, the same day that the EU and the UK plan to ban member state companies from providing transport, financial and insurance services to tankers transporting Russian oil unless the oil is exported at a price below the target price. The target price will be determined by the G7 and EU countries, among others, and no consensus has been reached yet.
      Crude oil prices have maintained swinging in a narrow range since October, and the details of sanctions and Russia's response plan in the next two weeks may become one of the risk variables affecting oil prices. If the original sanctions program is maintained, it is basically in line with current oil price expectations and will have little impact on prices. If the aggressive program leads to Russia's initiative to reduce production, there is an upside risk to oil prices; if the relaxed program reduces the strength of sanctions, the geopolitical risk premium of oil prices may partially fall back.

      Technical Analysis

      In the 1-hourly level chart, it is currently in the second stage of step-up rising, with the support near 85.3 in the early stage and the upper resistance near 89.3.
      WTI: Geopolitical Situation Is Bullish, to Long at Lows_1

      Trading Recommendations

      Trading Direction: Long
      Entry Price: 85.300
      Target Price: 89.000
      Stop Loss: 82.300
      Support: 84.800, 82.800
      Resistance: 88.800, 92.800
      Risk Warnings and Investment Disclaimers
      You understand and acknowledge that there is a high degree of risk involved in trading with strategies. Following any strategies or investment methodologies is the potential for loss. The content on the site is being provided by our contributors and analysts for information purposes only. You alone are solely responsible for determining whether any trading assets, or securities, or strategy, or any other product is suitable for you based on your investment objectives and financial situation.

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      King Ten

      Analyst

      Focus on macroeconomic analysis with extra attention to the geopolitical impact on financial markets.

      Ranking

      4

      Articles

      316

      Win Rate

      66.28%

      P/L Ratio

      0.34

      Focus on

      XAUUSD, WTI, COPPER

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