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Usoil: low weak finishing moves up

2022-08-11
1308
undamental analysis:

Crude oil fluctuated around 91.527. Last week, US crude oil exports decreased by 1.402 million barrels / day to 2.11 million barrels / day; In addition to the strategic reserve, the commercial crude oil import last week was 6.171 million barrels / day, a decrease of 1.171 million barrels / day compared with the previous week.


Crude oil usoil - 4-hour K-line diagram shows:



Technical analysis:


According to the 4-hour chart, the short power maintains a good downward trend, and there is a sign that the low-level short-term bulls are waiting for opportunities to enter the market. The MACD index remains weak in the short area, and the RSI index is in a narrow range under the 50 equilibrium line;


Long and short turning point: 90.169


Pressing position: 94.730, 97.242


Support position: 87.436, 84.850


Trading strategy: bullish above 90.169, target 94.730, 97.242


Alternative strategy: bearish below 90.169, target 87.436, 84.850

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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