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USOil: High level vibration
2022-10-28
1094
Fundamental analysis:
Crude oil remained volatile near 88.555. The World Bank said that after Russia's invasion of Ukraine led to a 60% surge in oil prices, it is expected that the energy price will fall by 11% in 2023. The slowdown in global economic growth may amplify the decline.
Crude oil USOil - 4-hour K line chart shows:
Technical analysis:
The 4-hour chart shows that the power of the low bulls continues to fluctuate, while the high bulls continue to fluctuate in the short term. The high bulls still have an upward trend. The MACD index is in the high consolidation of the long region, and the RSI index is in the weak wandering of the long region;
Empty turning point: 88.298
Pressing: 89.319, 89.971
Support: 87.629, 86.910
Trading strategy: bullish above 88.298, target 89.319, 89.971
Alternative strategy: 88.298 bearish, target 87.629, 86.910
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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