Oil continues to rise, reflecting Iran's political tensions and declining US production. Iran's speeding power struggle raised concerns about the stability of OPEC's third-largest oil producer, and US companies seeking new oil reserves cut the number of research platforms to the lowest level in two months. Iranian President Hasan Ruhani said the anger that led to a week of anti-government protests has revealed the need for greater freedom for Iranian citizens he has long advocated, as well as a stronger economy. The US has managed to occupy a large part of the oil market in the past year, and in the future, investors will not only monitor oil reserves in the country, but also shale oil production.
According to Wall Street's big players, the impact of the Iranian crisis will be temporary, and then there will be no strong foundation to raise the price of black gold over the zone of horizontal resistance formed in 2015. In technical terms, we still do not have Price Action for short positions, but the likelihood of the price reversing down from current levels remains more likely.
Eastern: Bloomberg Business Week
Jr Trader Petar Milanov
Bloomberg: Oil Toys With $ 62 Amid Iranian Friction, U. S. Drilling Pullback
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