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USOil: low down
2023-06-01
806
Fundamental analysis:
Crude oil remained oscillating around 67.562, and international crude oil fell sharply. The current macroeconomic weakness has become the biggest resistance to rising oil prices. The economy is still at a trough. It is expected that crude oil will continue to run weakly. In the near future, we will focus on the content of the OPEC+ ministerial meeting on June 4.
Crude oil USOil - 4-hour K-line chart shows:
Brief technical analysis:
Looking at the 4-hour chart: the lows continue to fluctuate and fall, the short-term decline has not stopped, the market is shrouded in bearish sentiment, the MACD indicator is in the bearish zone and continues to decline, and the RSI indicator is in the bearish zone and oscillates;
Resistance: 68.147 68.573
Support levels: 67.159 68.857
Trading strategy: bearish below 67.749, target 67.159 68.857
Alternative strategy: call above 67.749, target 68.147 68.573
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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