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USOil: high level finishing
2022-12-16
1019
Fundamental analysis:
Crude oil remained volatile around 76.279. After Europe banned imports of Russian oil, Russia's flagship Urals crude oil was sold at a deeper discount this month, while major buyer India's purchase price was well below the $60 ceiling agreed in the West. India has become the main destination for seaborne exports of Russian Urals crude since Russia began its invasion of Ukraine in February.
Crude oil USOil - 4-hour K-line chart shows:
Brief technical analysis:
4-hour chart: high short-term consolidation, short momentum has signs of entering the market and moving down, high short sentiment is waiting for an opportunity, MACD indicator is in the bullish area, and RSI indicator is hovering weakly above the 50 balance line;
Long-short turning point: 76.653
Suppression: 77.390, 78.245
Support: 75.442, 74.634
Trading strategy: bearish below 76.653, target 75.442, 74.634
Alternative strategy: call above 76.653, target 77.390, 78.245
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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