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USOil: move up again
2023-05-30
794
Fundamental analysis:
Crude oil remained volatile around 72.949. The overnight crude oil market will be closed early. There is no important economic data to be released, and market trading is relatively light. Investors need to pay attention to news about the US debt ceiling agreement and changes in market sentiment.
Crude oil USOil - 4-hour K-line chart shows:
Brief technical analysis:
Looking at the 4-hour chart: the bullish momentum moved up again after a short-term retracement, and the bullish sentiment in the market emerged again. In the short term, there is a continued bullish trend. The MACD indicator is hovering around the 0 axis, and the RSI indicator is weakly finishing near the 50 balance line;
Resistance: 73.352 73.713
Support levels: 72.286 71.953
Trading strategy: Bullish above 72.705, target 73.352 73.713
Alternative strategy: bearish below 72.705, target 72.286 71.953
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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