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USOil: Bulls climb
2023-01-16
832
Fundamental analysis:
Crude oil remained volatile around 80.006. The annual rate of U.S. inflation fell sharply in December as expected, and the monthly rate shrank for the first time in more than two and a half years. Boosted oil prices.
Crude oil USOil - 4-hour K-line chart shows:
Brief technical analysis:
Looking at the 4-hour chart: the bullish momentum continues to fluctuate and rise, the market is shrouded in bullish sentiment, and there is a short-term upward trend, the MACD indicator is at a high level in the bullish zone and slowly rising, and the RSI indicator is hovering at a high level in the bullish zone;
Long-short turning point: 79.782
Suppression: 80.560, 81.062
Support: 79.264, 78.730
Trading strategy: Bullish above 79.782, target 80.560, 81.062
Alternative strategy: bearish below 79.782, target 79.264, 78.730
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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