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USOil: low down
2022-12-08
953
Fundamental analysis:
Crude oil remained volatile around 72.378, refined oil inventories increased sharply, and the superimposed fear of economic recession dragged down oil prices. Investors weighed the aggressiveness of the Federal Reserve's monetary policy next week, and oil prices maintained a bearish tone.
Crude oil USOil - 4-hour K-line chart shows:
Brief technical analysis:
Looking at the 4-hour chart: the short-term trend continues to move down rapidly, and the short-term decline has not yet shown signs of stopping. The market's short-term sentiment is emerging, the MACD indicator is at a low level in the short-selling area, and the RSI indicator is at a low level in the short-selling area.
Long-short turning point: 72.916
Suppression: 73.622, 74.371
Support: 71.669, 71.000
Trading strategy: bearish below 72.916, target 71.669, 71.000
Alternative strategy: call above 72.916, target 73.622, 74.371
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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