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Usoil: low bulls up

2022-09-12
1090
Fundamental analysis:

Crude oil remained volatile around 86.199. US Treasury Secretary Yellen outlined measures on oil price ceiling and energy price; US Vice President Harris said the details of the price cap plan would be announced as soon as possible.


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



Technical analysis:


According to the 4-hour chart, the short power fluctuates downward in a stepwise manner, the low power is supported in the short term, the reverse moves upward, the long buying starts to emerge, the MACD indicator is in the short area, and the sorting moves upward, and the RSI indicator is in the 50 equilibrium line side;


Long and short turning point: 85.700


Pressing position: 87.179, 88.185


Support position: 84.546, 83.195


Trading strategy: bullish above 85.700, target 87.179, 88.185


Alternative strategy: bearish below 85.700, target 84.546, 83.195

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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