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USOil: high position down
2023-04-14
922
Fundamental analysis:
Crude oil remained volatile around 82.402. In the OPEC monthly report, the global oil demand forecast for the first quarter was raised by 270,000 barrels per day compared with the previous report. China, the Middle East, and Latin America were the main contributors to the upward revision.
Crude oil USOil - 4-hour K-line chart shows:
Brief technical analysis:
Looking at the 4-hour chart: after the short-term high short-term consolidation, the short-term momentum is waiting for an opportunity to enter the market, and there are signs of shocks and downturns in the short term. The MACD indicator is in the long-term consolidation zone, and the RSI indicator is hovering above the 50 balance line;
Resistance levels: 83.559 84.260
Support levels: 81.660 80.794
Trading strategy: bearish below 82.617, target 81.660 80.794
Alternative strategy: call above 82.617, target 83.559 84.260
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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