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USOil: high level finishing
2023-04-06
954
Fundamental analysis:
Crude oil remained volatile around 80.292. The U.S. EIA crude oil inventory fell more than expected in the week ended March 31, but refined oil products fell even more. Crude oil inventory in Cushing, Oklahoma -970,000 barrels, the previous value was -1.632 million barrels.
Crude oil USOil - 4-hour K-line chart shows:
Brief technical analysis:
Looking at the 4-hour chart: finishing at a high level and weak, the market as a whole is hovering at a high level and weak, and there is no further breakthrough in the short term. The MACD indicator is at a high level in the bullish zone, and the RSI indicator is hovering in the bullish zone;
Resistance levels: 81.383 82.256
Support levels: 79.451 78.672
Trading strategy: bearish below 80.511, target 79.451 78.672
Alternative strategy: call above 80.511, target 81.383 82.256
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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