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USOil: high level finishing
2023-02-14
866
Fundamental analysis:
Crude oil remained volatile around 79.230. China's economic recovery and sanctions on Russian oil exports are expected to lead to tight global crude oil supply in the second half of this year.
Crude oil USOil - 4-hour K-line chart shows:
Brief technical analysis:
Looking at the 4-hour chart: the bullish momentum maintains a narrow range of shocks and rises, the short-term highs encounter resistance and shocks, the market bullish pull-up trend weakens, the bearish momentum has signs of waiting for an opportunity to enter the market, the MACD indicator is in the bullish area, and the RSI indicator is hovering on the side of the 50 balance line;
Long-short turning point: 79.539
Suppression: 80.168, 80.809
Support: 78.629, 78.025
Trading strategy: bearish below 79.539, target 78.629, 78.025
Alternative strategy: call above 79.539, target 80.168, 80.809
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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