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Goldman Sachs waving a bullish flag oil market needs to rise further

2022-06-09
986
Fundamental analysis:

Crude oil remained volatile around 122.382. Goldman Sachs waved a big flag and believed that the oil price needed to rise further, so as to normalize the unsustainable low-level global oil inventory.


Crude oil usoil - 4-hour K-line diagram display:



Technical comments: the upper rail section of the multi head power continued to fluctuate and rise in the Bollinger belt index channel, and the high level continued to fluctuate and move up to the node near 123.117 for finishing. The high level of the Bollinger belt index was in a slow opening trend; MACD indicator is in the maintenance and consolidation of long areas, and RSI indicator is in the slow upward movement of long areas;


Multi empty turning point: 121.562


Pressing position: 123.797, 125.107


Support position: 120.104, 118.647


Trading strategy: bullish above 121.562, target 123.797, 125.107


Alternative strategy: bearish below 121.562, target 120.104, 118.647


The above analysis is a personal point of view and is for reference only.

The above information is provided by special analysts and is for reference only. CM Trade does not guarantee the accuracy, timeliness and completeness of the information content, so you should not place too much reliance on the information provided. CM Trade is not a company that provides financial advice, and only provides services of the nature of execution of orders. Readers are advised to seek relevant investment advice on their own. Please see our full disclaimer.

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