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Usoil: low weak finishing

2022-08-09
1341
Fundamental analysis:

The crude oil fluctuated around 90.452. The United States Agency for International Development (USAID) issued a statement saying that it would provide an additional 4.5 billion US dollars to the Ukrainian government, bringing the total US assistance to Ukraine since the outbreak of the Russian Ukrainian conflict in February to 8.5 billion US dollars.


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



Technical analysis:


According to the 4-hour chart, the short power is maintained in a fluctuating downward trend, the low-level narrow consolidation, the MACD index is in the short area, and the RSI index is in the narrow consolidation below the 50 equilibrium line;


Long and short turning point: 88.928


Pressing position: 93.738, 97.242


Support position: 85.973, 83.387


Trading strategy: bullish above 88.928, target 93.738, 97.242


Alternative strategy: bearish below 88.928, target 85.973, 83.387

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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