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USOil: Low position moves up and oscillates
2022-11-30
1012
Fundamental analysis:
Crude oil remained volatile around 78.879. It is expected that OPEC+'s production cuts this year will not have a major impact on the market, although this is an uncertain factor. Another factor that could drive prices higher is an escalation of the war in Ukraine.
Crude oil USOil - 4-hour K-line chart shows:
Brief technical analysis:
Looking at the 4-hour chart: The low-level long-term dynamic shocks move upwards, short-term resistance and shocks, the market is still bullish, after short-term consolidation, it will continue to rise upwards, the MACD index is in the short-term area and the shocks move upwards, and the RSI index is weak on the side of the 50 balance line wandering;
Long-short turning point: 78.461
Suppression: 79.972, 81.008
Support: 77.188, 76.329
Trading strategy: bearish below 78.461, target 77.188, 76.329
Alternative strategy: call above 78.461, target 79.972, 81.008
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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