简体中文
ภาษาไทย
繁體中文
Indonesia
USOIL: The rebound is gradually weakening
2022-08-03
1365
A brief analysis of the fundamentals:
The OPEC+ producer meeting may not lead to a further increase in crude supply amid fears that a global recession could limit energy demand. U.S. crude oil inventories rose last week, while gasoline and distillate inventories fell, data from the American Petroleum Institute (API) said.
4-hour chart of U.S. crude oil USOil
A brief technical analysis:
Looking at the 4-hour chart: oil prices fell again after a periodical upside and the price is close to the lower edge of the finishing range, the MACD volume energy column is under the 0 axis of heavy volume, the RSI indicator is weakening, and the short-term price continues to decline.
Long-short turning point: 109.00
Resistance: 115.00 122.00
Support: 102.00 93.00 85.00
Trading strategy: Bearish below 109.00, target 102.00, 93.00, 85.00
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.
Free AccessDaily Trading Strategy
Download Now
CM Trade Mobile Application
Economics Calendar
More
