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Usoil: short low volatility
2022-08-10
1331
Fundamental analysis:
Crude oil fluctuated around 90.464. Transneft said that Ukraine had suspended the flow of Russian oil to southern Europe since August 4, because of Western sanctions, Ukraine did not receive transit fees from Russia.
Crude oil usoil - 4-hour K-line diagram shows:
Technical analysis:
According to the 4-hour chart, the bearish sentiment of the market continues, the low and narrow ranges maintain consolidation, the bulls have signs of waiting for an opportunity to enter, the MACD index is in the short area and maintained consolidation, and the RSI index is hovering 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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