USOil: low down
Crude oil remained volatile around 66.773, and the market's expectation of a recovery in Chinese demand supported the price rebound over the weekend. U.S. crude oil exports to China hit the highest level in nearly two and a half years in March.
Crude oil USOil - 4-hour K-line chart shows:
Brief technical analysis:
Looking at the 4-hour chart: the short-term dynamics fell sharply after fluctuating at a low level, and the short-term decline may continue. The market as a whole is in the process of continuous downward movement of short positions.
Resistance: 68.128 68.999
Support levels: 65.908 65.149
Trading strategy: bearish below 67.228, target 65.908 65.149
Alternative strategy: call above 67.228, target 68.128 68.999
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