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US oil: continuous shock
2022-07-20
1148
Fundamental analysis:
Crude oil remained volatile around 100.128, and crude oil staged an incredible reversal. There was no big bullish news to promote this round of rebound, but the combination of sudden decline in open positions and low trading volume often led to crazy price fluctuations.
Crude oil usoil - 4-hour K-line diagram shows:
Technical analysis:
According to the 4-hour chart, the power of low-level bulls remained volatile and continued to move upward in the short term. The MACD index hovered on the upper side of the 0 axis, and the RSI index was in a narrow range of 50 balanced on the online side;
Long and short turning point: 99.675
Pressing position: 102.056, 103.795
Support position: 98.277, 96.727
Trading strategy: bullish above 99.675, target 102.056, 103.795
Alternative strategy: bearish below 99.675, target 98.277, 96.727
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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