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US oil: strong shock pull up

2022-07-19
1170
Fundamental analysis:

Crude oil remained volatile around 102.585, Biden's Middle East trip ended flat, and Saudi Arabia did not make a clear commitment to significantly increase oil production.


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



Technical analysis:


According to the 4-hour chart, the low-level Bull Power fluctuated strongly, and the short-term bull upward movement trend may continue, and there is no sign of stopping. The MACD index Bull Power maintained a concussion and moved upward to hover above the 0 axis, and the RSI index is in the 50 equilibrium online side sorting;


Long short turning point: 101.792


Pressing position: 104.097, 105.458


Support position: 100.280, 98.655


Trading strategy: bullish above 101.792, target 104.097, 105.458


Alternative strategy: bearish below 101.792, target 100.280, 98.655

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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