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US oil: bears continue to fall
2022-07-13
1213
Fundamental analysis:
Crude oil remained volatile around 95541. As of the week of July 8, crude oil inventories increased by 4.762 million barrels, far exceeding the expected decrease of 1.933 million barrels. Oil prices fell to a three-month low due to reduced demand caused by the epidemic and concerns about us CPI data.
Crude oil usoil - 4-hour K-line diagram shows:
Technical analysis:
According to the 4-hour chart, the short-term momentum of the market is good, the short-term decline is still the same, the early low break is imminent, the MACD index is in the short area to maintain consolidation and move down, and the RSI index is in the short area to maintain weak hovering;
Multi empty turning point: 96.255
Pressing position: 97.757, 99.225
Support position: 94.093, 92.547
Trading strategy: bearish below 96.255, target 94.093, 92.547
Alternative strategy: bullish above 96.255, target 97.757, 99.225
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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