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USOil: bulls move up

Fundamental analysis:

Crude oil remained volatile around 81.260. The market's poor expectations for the global economic outlook still made investors worried about the demand outlook, and the market's expectations for the Fed's interest rate hike in November also hit the morale of crude oil bulls.

Crude oil USOil - 4-hour K-line chart shows:

Brief technical analysis:

Looking at the 4-hour chart: the bullish momentum remains volatile and upward, the short-term bullish sentiment remains, the market bulls continue to climb, the MACD indicator is finishing on the upper side of the 0 axis, and the RSI indicator is hovering weakly on the upper side of the 50 balance line;

Resistance levels: 81.618 81.996

Support levels: 80.649 80.283

Trading strategy: Bullish above 81.051, target 81.618 81.996
Alternative strategy: bearish below 81.051, target 80.649 80.283

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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