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Usoil: continue the air test above 100

2022-07-15
1301
Basic analysis:

US oil futures fell 0.5% to settle at US $95.78 per barrel; At one point, it plummeted nearly 6% to close at $90. Earlier investors were concerned about the prospect of a substantial interest rate hike in the United States later this month, which may curb inflation, but it will also hit oil demand


US crude usoil 4-hour chart


Technical analysis:


According to the 4-hour chart, the short-term price stopped falling and began to rebound, the MACD energy column contracted down the 0 axis, the RSI index rose slightly, and the probability of short-term rebound was large.


Long short turning point: 109.00


Resistance level: 115.00 122.00


Support position: 102.00 93.00


Trading strategy: bearish below 109.00, target 102.00, 93.00


Alternative strategy: bullish above 109.00, target 115.00, 122.00

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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