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USOil: Bulls up

2023-02-13
826
Fundamental analysis:

Crude oil remained volatile around 79.810, China's consumer price index (CPI) in January rose compared with the same period last year, and the inflation rate was close to the control target of about 3% set by the government last year, which added a cautious atmosphere to the oil market .

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



Brief technical analysis:

Looking at the 4-hour chart: the bullish momentum maintains an upward trend and continues to fluctuate and rise, short-term bullish sentiment emerges, the market bulls continue to climb, the MACD indicator is in the bullish zone to maintain consolidation, and the RSI indicator is in the bullish zone to maintain shocks;

Long-short turning point: 75.539

Suppression: 80.401, 80.988
Support: 79.007, 78.402

Trading strategy: Bullish above 75.539, target 80.401, 80.988
Alternative strategy: bearish below 75.539, target 79.007, 78.402

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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