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Meiyou: narrow width finishing
2022-07-12
1236
Fundamental analysis:
Crude oil remained volatile around 102.220, and the dollar hit its highest level since October 2002, putting pressure on oil prices. A stronger dollar will reduce demand for oil, as oil prices are higher for buyers in other currencies.
Crude oil usoil - 4-hour K-line diagram shows:
Technical analysis:
According to the 4-hour chart, the narrow range of Bull Power oscillates upward, the amplitude space gradually narrows, the MACD index hovers around the 0 axis, and the RSI index is in a narrow range near the 50 equilibrium line;
Long short turning point: 101.393
Pressing position: 104.261, 106.114
Support position: 99.600, 97.866
Trading strategy: bullish above 101.393, target 104.261, 106.114
Alternative strategy: bearish below 101.393, target 99.600, 97.866
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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