CM Trade

Download APP to receive bonus

GET

USOil: high up

2023-04-13
941
Fundamental analysis:

Crude oil remained volatile around 83.226. EIA report: U.S. domestic crude oil production increased by 100,000 barrels to 12.300 million barrels/day in the week of April 07, and the four-week average supply of U.S. crude oil products was 20.039 million barrels/day, an increase of 0.72% over the same period last year .

Crude oil USOil - 4-hour K-line chart shows:



Brief technical analysis:

Looking at the 4-hour chart: the bullish momentum moves up with high volatility, the market is still bullish, and there is a trend of continuing to move upward in the short term. The MACD indicator is hovering in the bullish zone, and the RSI indicator is in the bullish zone.

Resistance: 84.260 85.142

Support levels: 81.660 80.794

Trading strategy: Bullish above 82.617, target 84.260 85.142
Alternative strategy: bearish below 82.617, target 81.660 80.794

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.

Free Access
Daily Trading Strategy
Download Now

CM Trade Mobile Application

Economics Calendar

More