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USOil: Bears down
2022-12-06
946
Fundamental analysis:
Crude oil remained volatile around 77.364. Saudi Arabia set the official selling price of Arabian light oil sold to northwest Europe in January at -US$0.10/barrel compared to the settlement price of Brent crude oil. Saudi Arabia set the official selling price of Arabian Light oil sold to the United States in January at a premium of $6.35 a barrel over Argus sour crude.
Crude oil USOil - 4-hour K-line chart shows:
Brief technical analysis:
Looking at the 4-hour chart: the short-term market has fallen sharply, and the short-term decline may continue. The market as a whole is in a short-term downward trend. The MACD indicator is finishing near the 0 axis, and the RSI indicator is below the 50 balance line and moves down weakly;
Long-short turning point: 77.527
Suppression: 78.292, 78.992
Support: 76.614, 75.998
Trading strategy: bearish below 77.527, target 76.614, 75.998
Alternative strategy: call above 77.527, target 78.292, 78.992
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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