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US oil: bears continue to fall
2022-07-01
1254
Fundamental analysis:
Crude oil remained volatile around 105.895, as concerns about the global economic slowdown deepened, resulting in long-term profit taking of crude oil, putting short-term pressure on oil prices. However, the lack of global crude oil supply has always supported oil prices.
Crude oil usoil - 4-hour K-line diagram display:
Technical analysis:
According to the 4-hour chart, the high short power fell rapidly, continued to fluctuate and descend near the brin zone index, the brin zone index continued to open its mouth, the short power of MACD index continued to fluctuate and descend to the lower side of axis 0, and the RSI index continued to move downward under the 50 equilibrium line;
Long short turning point: 106.688
Pressing position: 108.307, 109.808
Support position: 104.476, 103.291
Trading strategy: bearish below 106.688, target 104.476, 103.291
Alternative strategy: bullish above 106.688, target 108.307, 109.808
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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