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USOil: high position down
2023-04-18
990
Fundamental analysis:
Crude oil remained volatile around 80.943, and the IEA also warned in its monthly report that the latest production cuts announced by the Organization of the Petroleum Exporting Countries and its partners (OPEC+) are likely to exacerbate oil supply shortages in the second half of the year and could damage consumers and the global economic recovery .
Crude oil USOil - 4-hour K-line chart shows:
Brief technical analysis:
Looking at the 4-hour chart: the high-level short-term momentum continues to fluctuate and move down, the short-term decline may continue, the market is shrouded in bearish sentiment, the MACD indicator is on the upper side of the 0 axis and slowly descending, and the RSI indicator is on the lower side of the 50 balance line.
Resistance: 82.084 82.771
Support levels: 80.368 79.821
Trading strategy: bearish below 81.345, target 80.368 79.821
Alternative strategy: call above 81.345, target 82.084 82.771
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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