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USOIL: The air force has the upper hand

2022-07-25
1822
A brief analysis of the fundamentals:
U.S. oil futures settled 1.7 percent at $94.70 a barrel, the first close below $95 since April after the European Union said it would allow Russian state-owned companies to pay third countries under sanctions adjustments agreed by member states this week. Transport oil.

4-hour chart of U.S. crude oil USOil


A brief technical analysis:

From the 4-hour chart: the short-term price rebounded and weakened again, the MACD volume energy column 0-axis shrunk down, the RSI indicator weakened slightly, and the short-term price continued to decline.

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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