US CRUDE OIL TECHNICAL ANALYSIS SHORT TERM VIEW
It is running in negative trend and it has made irregular correction as marked by abc pattern on downside. So it can sharply fall below 67.30 level . Intraday stop loss is 70.35 and main stop loss is 72.70 and target is 67.30.Trend is downward and calculation are in continuation of trend so better to sell with strict stop loss for downside target 67.30 towards.
QUICK FUNDAMENTAL LOOK
Crude benchmarks pare some gains after rising as much as 1.3%. Clash between Moscow and mercenary group averted over weekend. Concerns over Putin declaring martial law-RBC analyst. Oil prices rose on Monday after a revolt by Russian mercenaries over the weekend raised concerns about political instability in Russia and the potential impact on oil supply from one of the world's largest producers.
