UKOil stabilises on weekly, but it remains to be seen whether it is being accumulated or distributed
With the stabilisation of prices comes the question as to whether UKOil is being distributed or accumulated?
Senior Market Specialist
Russell Shor joined FXCM in October 2017 as a Senior Market Specialist. He is a certified FMVA® and has an Honours Degree in Economics from the University of South Africa. Russell is a full member of the Society of Technical Analysts in the United Kingdom. With over 20 years of financial markets experience, his analysis is of a high standard and quality.
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With the stabilisation of prices comes the question as to whether UKOil is being distributed or accumulated?
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There is generally a positive relationship between FXCM’s USDOLLAR basket and the US fixed income market. Therefore, it is surprising that the USDOLLAR charted a lower peak whilst the US 2-year note’s momentum increased (as represented by the shift up in trendline on the top chart).
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