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USOil: low down
2023-03-19
519
Fundamental analysis:
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
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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