Technical Analysis – Crude oil bullish at 5-month high
Posted on March 3, 2014 at 9:05 am GMTCrude oil hit a 5-month high early on Monday as geopolitical tensions between Russia and Ukraine escalated. Threats of sanctions on Russia could disrupt supplies to Europe which receives a third of its supply from there. Oil prices opened on Monday with a gap higher at 103.14 compared to Friday’s close of 102.65 and hit a high of 104.63, the highest since September 22. Prices have been rallying since January 14 and have been contained in a rising channel since [..]