Mt4.mt5 News -- international oil prices have released a sharp rise signal! Break through the triangle because of success!

With the protracted conflict between Russia and Ukraine, the European Union has stepped up its sanctions on Russian crude oil, and the global shortage of crude oil supply is moving from panic to reality, which may stimulate the international oil price to rise again.

From a technical point of view, the fact that the US crude oil price has successfully broken through the triangle consolidation may be a signal of the beginning of a round of sharp rise.

The EU may launch sanctions on Russian crude oil, which will push up international oil prices

The conflict between Russia and Ukraine now seems to have no hope of being resolved through negotiation, and the persistence of the war will aggravate the tension of energy supply. Ukrainian officials said yesterday that it was impossible for Ukraine to sign a peace treaty with Russia at present, and that the war between Russia and Ukraine would not end soon, and that a turning point in favour of Ukraine would usher in the battlefield.

The tightening of EU sanctions on Russian crude oil may become an important driver of the rise in international oil prices. Originally, the US energy import ban on Russia and the EU coal ban on Russia were offset by corresponding measures (selling crude oil reserves, delaying the entry into force, etc.), resulting in the suspension of the rapid rise in international oil prices in the past month, but now new factors supporting oil prices appear.

Since last week, Germany has changed its position on the Russian crude oil embargo. Before that, Germany tended to oppose and gradually circulate. But now Germany tends to support sanctions to ban Russian crude oil as soon as possible.

The German Chancellor said this week that Germany would stop importing Russian coal this summer, gradually stop importing Russian oil by the end of the year, and significantly reduce the import of natural gas from Russia. The German finance minister said that the Russian crude oil embargo might be implemented immediately.

Although there are still some countries opposed to the Russian crude oil embargo within the European Union, the Hungarian foreign minister reiterated that he would not vote for sanctions on Russian crude oil and natural gas. However, the Italian prime minister said he would strive for a qualified majority to make a decision.

In other words, the risk of the EU's introduction of sanctions against Russian crude oil will increase significantly soon, which may detonate international oil prices again.

The short-term impact factors of international oil prices also need to pay attention to the impact of EIA inventory data and the Fed's interest rate decision on the market.

Technical analysis of US crude oil price: effectively breaking through the triangle or ushering in a wave of rise

The four hour chart shows that the U.S. crude oil price has broken through the upper boundary and 105 of the sorting triangle for the third time since last Friday, and the effective breaking of the triangle may be confirmed, which will be a further bullish signal.

If it meets the bullish expectations, it may rise to the high of 109-110 on April 18, and breaking through this resistance area may open the room to rise to 115.

If it falls back, the initial support below is 105.50, and the further support after falling below is 104. If it continues to fall, it will indicate that the upper breaking triangle has failed.