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USOIL: Continue to test short above 100
2022-07-18
1642
A brief analysis of the fundamentals:
U.S. oil prices remained volatile. The June CPI data released by the United States unexpectedly exceeded expectations by a large margin, which made the market's expectations for the Fed to raise interest rates sharply, which is not conducive to oil prices.
4-hour chart of U.S. crude oil USOil
A brief technical analysis:
From the 4-hour chart, the short-term price stopped falling and began to rebound, the MACD volume energy column 0-axis shrunk down, the RSI indicator rose slightly, and the probability of a short-term continuation of the rebound is high.
Long-short turning point: 109.00
Resistance: 115.00 122.00
Support: 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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