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USOIL; Continue to wait for rebound

2022-10-26
1055
asic analysis:

Oil prices rose slightly on Tuesday, falling more than $1 earlier. The weaker dollar and the Saudi Energy Minister's emphasis on supply concerns boosted the oil market.


US Oil Daily Chart


Technical analysis:


From the daily chart, we can see that the low price of oil has been sorted out, the MACD capacity column has started to shrink above the 0 axis, the trend of RSI indicators has been flat, the short-term oil price has continued to sort out, and the probability of subsequent rebound is high.


Empty turning point: 97.00


Resistance level: 109.00 122.00


Support position: 86.00 75.00


Trading strategy: bearish under 97.00, target 86.00, 75.00


Alternative strategy: bullish above 97.00, target 109.00, 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.

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