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USOil: hovering high
2023-04-16
936
Fundamental analysis:
Crude oil remained volatile around 87.675, and the United States and Europe faced economic pressure again, but in the reference week ended April 8, global demand for motor fuels increased by 2.2 million barrels per day compared with the same period last year. The rebound in China and other Asian countries accounted for two-thirds of the growth in global mobility fuel demand.
Crude oil USOil - 4-hour K-line chart shows:
Brief technical analysis:
4-hour chart: short-term high short-term consolidation, short momentum has signs of waiting for opportunities to enter the market, but it is still in a high-level and volatile trend, the MACD indicator is in the bullish area to maintain consolidation and translation, and the RSI indicator is hovering above the 50 balance line;
Resistance levels: 83.559 84.260
Support levels: 81.930 81.180
Trading strategy: bearish below 82.863, target 81.930 81.180
Alternative strategy: call above 82.863, 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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