Crude oil remained volatile around 83.450, and Russia and Ukraine were worried about the geopolitical situation, which helped the oil price rise to around 86.65 US dollars/barrel on Wednesday, but it was finally pressured by the US Federal Reserve's interest rate increase and the US dollar's surge.
Crude oil USOil - 4-hour K line chart shows:
The 4-hour chart shows that the low position remains wide range shock, and the short-term or low position is wide range consolidation trend. There is a slight lack of follow-up power for the market bulls to pull up. The MACD index hovers under the 0 axis, and the RSI index is arranged under the 50 equilibrium line;
Empty turning point: 83.066
Pressing position: 84.327, 85.219
Support position: 82.163, 81.535
Trading strategy: 83.066 lower bearish, with 82.163 and 81.535 targets
Alternative strategy: bullish above 83.066, target 84.327, 85.219