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USOil: High opening and wide amplitude vibration
2022-10-03
1140
Fundamental analysis:
The crude oil remained volatile near 81.625. OPEC+considered to cut production by more than 1 million barrels per day. The geopolitical tension between Russia and Ukraine escalated to the extreme. Chechnya regional leader Kadyrov called for the use of low yield nuclear weapons.
Crude oil USOil - 4-hour K line chart shows:
Technical analysis:
The 4-hour chart shows that the low position has a short-term wide amplitude shock, and the bull power has signs of waiting for an opportunity to enter the field. The MACD index hovers in the weak position on the upper side of the 0 axis, and the RSI index is in the narrow range on the upper side of the 0 axis;
Empty turning point: 81.235
Pressing position: 82.558, 83.507
Support position: 80.361, 79.561
Trading strategy: 81.235 is bullish, and the targets are 82.558 and 83.507
Alternative strategy: 81.235 bearish, with 80.361 and 79.561 targets
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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