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US oil: continuous downward shock
2022-07-22
1309
Fundamental analysis:
Crude oil remained volatile around 96.514, and the Federal Reserve's sharp tightening policy will squeeze market liquidity, leading to a recession, which will damage crude oil demand, which has continued to put pressure on oil prices in recent weeks.
Crude oil usoil - 4-hour K-line diagram shows:
Technical analysis:
According to the 4-hour chart, the short-term momentum remained volatile, the downward trend continued, the short-term downward trend hit again, the short-term downward trend was good, the MACD index hovered below the 0 axis, and the RSI index was in a narrow range under the 50 equilibrium line;
Long short turning point: 97.254
Pressing position: 98.592, 100.039
Support position: 95.373, 94.179
Trading strategy: bearish below 97.254, target 95.373, 94.179
Alternative strategy: bullish above 97.254, target 98.592, 100.039
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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