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Us hurricane season is about to begin, which may depress crude oil supply

2022-06-08
780
Fundamental analysis:

The crude oil fluctuated around 119.574, and the hurricane season in the United States is about to begin. According to past experience, the Gulf Coast will face greater risks. As for the Gulf of Mexico, which provides nearly half of the refining capacity of the United States, the hurricane may further exacerbate the shortage of fuel supply in the United States and trigger a new round of soaring prices.


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



Technical comments: the upper rail section of the Bollinger belt index channel continues to fluctuate and rise, the high-level narrow range consolidation and translation, the Bollinger belt index continues to close, the MACD index remains weak in the long region, and the RSI index remains weak in the long region;


Multi empty turning point: 118.516


Pressing position: 120.257, 121.606


Support position: 117.123, 115.943


Trading strategy: bullish above 118.516, target 120.257, 121.606


Alternative strategy: bearish below 118.516, target 117.123, 115.943


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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