US oil: high and wide range shock

Fundamental analysis:

Crude oil remained volatile around 114.510, Powell's speech was slightly partial to dove, and the short-term negative impact of tightening on oil prices may be limited. Regardless of the possible recession risk in the future and the Fed's more than expected tightening statement, the oil price may remain at a high level. It is too early to start the trend decline.

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

Technical comments: the short power continued to fluctuate and fall in the middle and lower track of the Bollinger belt index channel, and the low level reached the node near 122.271. There was a short-term reversal and upward movement, and then fell again. The short downward trend was good, and the Bollinger belt index continued to open its mouth. The MACD index maintained a concussion and downward movement in the short area, and the RSI index maintained a concussion and downward movement in the short area, and then a short reversal and upward movement and downward movement again;

Multi empty turning point: 115.542

Pressing position: 116 980、118.367

Support position: 112.915, 111.478

Trading strategy: bearish below 115.542, target 112.915, 111.478

Alternative strategy: bullish above 115.542, target 116 980、118.367

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