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PetroChina: continuous exploration

2022-06-23
1333
Fundamental analysis:

Crude oil remained volatile around 104.326. The United States is discussing with its allies such as Canada, hoping to limit Russia's energy income by imposing price caps on Russian oil and other bulk energy.



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




Technical analysis:


According to the 4-hour chart, the short power moves downward in a step-by-step vibration, moving downward in a narrow range in the Bollinger belt index channel. During this period, the middle and lower rail section nodes were spied back and forth for many times. The Bollinger belt index continues to move downward in a closing trend. The MACD index is in the short area to maintain the consolidation and translation, and the RSI index is in the short area to maintain the consolidation and weak wandering;


Multi empty turning point: 105.226


Pressing position: 106.806, 108.544


Support position: 102.777, 101.471


Trading strategy: bearish below 105.226, target 102.777, 101.471


Alternative strategy: bullish above 105.226, target 106.806, 108.544

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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