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USOil: high position down
2022-12-29
948
Fundamental analysis:
Crude oil remained volatile around 78.690, and the poor outlook for global economic recovery is expected to limit fuel demand growth. Although Russia has banned oil sales to some countries, this may be offset by the possible decline in demand caused by the global economic recession in 2023.
Crude oil USOil - the 4-hour K-line chart shows:
Brief technical analysis:
Looking at the 4-hour chart: the high-level short-term momentum continues to fluctuate downward, and the short-term decline may continue. The overall short-term sentiment in the market is good. The MACD indicator is hovering above the 0-axis, and the RSI indicator is on the side of the 50 balance line.
Long-short turning point: 79.105
Suppression: 79.761, 80.461
Support: 78.052, 77.336
Trading strategy: bearish below 79.105, target 78.052, 77.336
Alternative strategy: call above 79.105, target 79.761, 80.461
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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