Crude Extends Gains As Geopolitical Tension Belies Bearish Signals

Oil extended gains to the highest since early November as an escalation of geopolitical conflicts in Libya and Iran belied technical indicators suggesting the rally is overdone.
Futures rose as much as 0.6 percent in New York after gaining 3.7 percent over the previous two sessions. Fighter jets bombed the Tripoliairport in OPEC producer Libya and U.S. President Donald Trump said he would designate Iran’s Revolutionary Guard a terrorist group. The 14-day relative strength index for West Texas Intermediate futures was at 77, above the 70 level that signals its in overbought territory. For More Information Please Visit : www.dollaradvisory.com and Call : +91 9111-179961