The Game is on: Oil Set to Drop and Drag Ruble Down
Good day,
The price of Russian ruble has approached a very strong psychological resistance at the level of 80.00, and the uptrend. The price of USD/RUB has jumped, therefore it might undergo correction away from the level of 80 till the level of 76 soon. Although, Russian ruble might also jump against the increase in oil prices. However, even though geopolitical risks might positively affect the price of Russian ruble, the market might still make USD/RUB drop. So far, everything looks good. So, let’s wait and see what is going to happen next.
The price of gold has pulled from the weekly downtrend, trying to close the trading day with a long black candle. Gold is likely to drop. Of course, the price of gold might still hit the middle of black candle and test the downtrend at the level of about 1845.00, yet it is already targeting the level of 1800 right now.
Oil has pulled from the broken level of 86.70, targeting the price of 96 US dollars per barrel. The goal is quite ambitious yet doable for now. Once oil has faced the resistance at the level of 96.00, it might quickly drop. However, it is worth observing what oil is about to do next.
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