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USOil: oscillating down

Fundamental analysis:

Crude oil remained volatile around 76.127, and the market worried that the global economic slowdown would reduce fuel demand, prompting investors to take profits. But oil prices are likely to rise in the coming weeks due to supply shortages and a rebound in demand.

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

Brief technical analysis:

Looking at the 4-hour chart: the short-term momentum of the market is moving down within a narrow range, and the short-term short-term sentiment is slowly emerging, and the market continues to move downward.

Long-short turning point: 76.296

Suppression: 76.789, 77.238
Support: 75.667, 75.248

Trading strategy: bearish below 76.296, target 75.667, 75.248
Alternative strategy: call above 76.296, target 76.789, 77.238

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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