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USOil: low down
2023-04-21
920
Fundamental analysis:
Crude oil remained volatile around 77.101. Due to the reduced demand for oil in the domestic market, the seasonal maintenance of Russian refineries in April may be the reason for the high crude oil export volume.
Crude oil USOil - 4-hour K-line chart shows:
Brief technical analysis:
Looking at the 4-hour chart: The short-term momentum remains volatile and downward, and the short-term decline may continue. The market as a whole is in a bearish trend, the MACD indicator is in the bearish zone and slowly descending, and the RSI indicator is in the bearish zone. Low and weak;
Resistance: 77.708 78.131
Support levels: 76.647 76.201
Trading strategy: bearish below 77.297, target 76.647 76.201
Alternative strategy: call above 77.297, target 77.708 78.131
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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