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US oil: strong pull up

2022-06-29
1204
Fundamental analysis:

Crude oil remained volatile around 111.832. As of June 24, API crude oil inventory in the United States fell unexpectedly in the week, erasing the growth of the previous week, and gasoline inventory rose for the second consecutive week. The oil price difference between the United States and Burundi has been revealed. The price difference has widened to $6.19, the largest in the past three months.


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



Technical analysis:


According to the 4-hour chart, the bull power continued to move upward near the brin belt index on the track, the bull power continued to rise, the brin belt index continued to rise in an open trend, the MACD index kept sorting out and slowly moved upward in the bull region, and the RSI index kept moving upward in the bull region;


Multi empty turning point: 111.151


Pressing position: 113.166, 114.312


Support position: 109.650, 108.426


Trading strategy: bullish above 111.151, target 113.166, 114.312


Alternative strategy: bearish below 111.151, target 109.650, 108.426

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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