Crude oil fluctuated around 96.923. The United Arab Emirates and Saudi Arabia have the same ideas on production policy, while the Ministry of oil of Oman also expressed support for OPEC and its allies (OPEC +) in their efforts to maintain market stability. If Iran's nuclear agreement is restarted and Iran's oil export ban is lifted, OPEC will consider reducing production to offset any increase in Iran's production.
Crude oil usoil - 4-hour K-line diagram shows:
According to the 4-hour chart, the low-level Bulls' power keeps rising, the short-term highs continue to move upward, the market bullish mood is good, the MACD index is in the 0-axis upward weak consolidation, and the RSI index is in the 50 equilibrium online side shock;
Long and short turning point: 96.364
Pressing position: 98.248, 99.143
Support position: 95.334, 94.451
Trading strategy: bullish above 96.364, target 98.248, 99.143
Alternative strategy: bearish below 96.364, target 95.334, 94.451