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USOil: Move up the shock
2022-12-20
948
Fundamental analysis:
Crude oil remained volatile around 75.838, and the market's optimistic outlook on crude oil demand in Asia provided support for oil prices. However, the hawkish remarks made by the Federal Reserve and several European central banks on interest rate hikes have aroused concerns about a possible economic recession, and the downward trend line is positive for oil prices. The suppression is more obvious, and we need to beware of the risk of further decline in oil prices.
Crude oil USOil - 4-hour K-line chart shows:
Brief technical analysis:
Looking at the 4-hour chart: the bullish momentum moves up slowly within a narrow range, and the short-term bullish sentiment is waiting for an opportunity to enter the market. The MACD indicator is hovering around the 0 axis, and the RSI indicator is weakly finishing near the 50 balance line;
Long-short turning point: 75.560
Suppression: 76.606, 77.318
Support: 74.753, 73.969
Trading strategy: Bullish above 75.560, target 76.606, 77.318
Alternative strategy: bearish below 75.560, target 74.753, 73.969
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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