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USOil: Low level wide amplitude vibration

2022-09-20
1175
Fundamental analysis:

Crude oil remained volatile near 84.969, and the Iran Nuclear Negotiation Conference did not make a major breakthrough, reducing the hope of a large amount of Iranian crude oil entering the market. In an interview with the media, President Leahy of Iran said that only by ensuring the lifting of sanctions against Iran can Iran's nuclear negotiations make progress.



Crude oil USOil - 4-hour K line chart shows:



Technical analysis:


The 4-hour chart shows that the bearish power maintains a wide range of shocks and declines, while the low position is rapidly lowered and then reorganized. The market bearish sentiment remains unchanged. The MACD indicator hovers below the axis 0, and the RSI indicator is weak near the 50 equilibrium line;


Empty turning point: 85.611


Pressing position: 86.647, 87.682


Support position: 84.103, 83.245


Trading strategy: 85.611 lower bearish, target 84.103, 83.245


Alternative strategy: bullish above 85.611, target 86.647, 87.682

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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