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USOIL: The crackdown is very effective, and US oil is rising
2022-06-20
67418
A brief analysis of the fundamentals:
Powell this week publicly supported for the first time raising interest rates sharply into zones that limit economic activity, a strategy that typically leads to recessions and could hit energy consumption. On Friday, he reiterated that the Fed is "strongly focused" on getting inflation back to 2%;
4-hour chart of U.S. crude oil
A brief technical analysis:
From the 4-hour chart: the short-term exchange rate continues to fall on the lower track of Bollinger, the Bollinger indicator diverges and moves down, the MACD volume energy column accelerates the heavy volume, the RSI indicator falls rapidly, and the probability of a weak intraday rebound is high.
Long-short turning point: 115.00
Resistance: 122.00 130.00
Support: 109.00 102.00
Trading strategy: Bearish below 115.00, target 109.00, 102.00
Alternative strategy: bullish above 115.00, target 122.00, 130.00
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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