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USOil: high position down
2023-04-19
946
Fundamental analysis:
Crude oil remained volatile around 80.838. Investors worried that the US Federal Reserve may raise interest rates in May, which may curb the hope of economic recovery. The dollar strengthened, and international oil prices corrected slightly.
Crude oil USOil - 4-hour K-line chart shows:
Brief technical analysis:
Looking at the 4-hour chart: the high-level short-term momentum maintains a narrow downward trend, and the market’s short-term sentiment is gradually emerging. The MACD indicator is hovering weakly below the 0 axis, and the RSI indicator is weakly organized below the 50 balance line;
Resistance: 82.084 82.771
Support levels: 80.212 79.611
Trading strategy: bearish below 81.345, target 80.212 79.611
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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