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USOil: low order

Fundamental analysis:

Crude oil remained volatile around 68.240, and concerns about economic recession in Europe and the United States outweighed concerns about a new round of inflation. In the short term, crude oil prices may still be weak.

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

Brief technical analysis:

The 4-hour chart shows: the low position is in a narrow range, the market is shrouded in short positions, the short-term low position is weak, the MACD indicator is in the short area, and the RSI index is in the short area.

Resistance: 69.641 70.487

Support levels: 67.320 66.501

Trading strategy: bearish below 68.685, target 67.320 66.501
Alternative strategy: call above 68.685, target 69.641 70.487

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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