Crude Oil Over-extended!

I believe crude oil has been overextended, were the ongoing turmoil between Russia and Ukraine helped the commodity rally further yesterday. Meantime, as Putin backs-off, i believe crude oil could see a meaningful correction, especially that copper remains under pressure. We will probably see a retest of 100.50 support level.

If things escalate again on the political front, that may force prices higher again. At the end of the day, trading is a game of speculation, and never certain.

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