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USOil: high position down
2023-01-25
885
Fundamental analysis:
Crude oil remained volatile around 80.095. Although the US economy may be in recession, which is expected to limit the fuel demand of the world's largest oil consumer, China, the world's largest crude oil importer, is expected to have a better economy and a comprehensive recovery in transportation demand will provide persistent support for the energy market.
Crude oil USOil - 4-hour K-line chart shows:
Brief technical analysis:
The 4-hour chart: the momentum of high-level short positions has turned sharply downward, the short-term short-term downward trend may continue, the market is shrouded in short-term sentiment, the MACD indicator is in the bullish area, and it retreats to hover around the 0 axis, and the RSI indicator is below the 50 balance line and moves downward middle;
Long and short turning point: 80.407
Suppression: 80.897, 81.371
Support: 79.590, 79.067
Trading strategy: bearish below 80.407, target 79.590, 79.067
Alternative strategy: call above 80.407, target 80.897, 81.371
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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