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USOil: low up

2022-12-14
939
Fundamental analysis:
Crude oil remained volatile around 75.139, and OPEC's monthly report raised its forecast for global economic growth in 2022 from 2.7% to 2.8%. The forecast for global economic growth in 2023 remains unchanged at 2.5%.

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


Brief technical analysis:
Looking at the 4-hour chart: the low-level bulls maintain a volatile upward momentum, and the short-term upward movement is good, and the overall market is shrouded in bullish sentiment. The MACD indicator maintains low-level bulls and moves up to the 0 axis. The RSI indicator is at the 50 balance line and the market is weak. ;
Long-short turning point: 74.871
Suppression: 75.988, 76.796
Support: 74.111, 73.256
Trading strategy: Bullish above 74.871, target 75.988, 76.796
Alternative strategy: bearish below 74.871, target 74.111, 73.256

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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