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USOil: pull high
2023-01-20
896
Fundamental analysis:
Crude oil remained volatile around 80.669. The U.S. EIA crude oil inventory in Cushing, Oklahoma, in the week to January 13 was 3.646 million barrels, compared with the previous value of 2.511 million barrels. EIA Cushing crude oil inventories jumped to the highest level in a year.
Crude oil USOil - 4-hour K-line chart shows:
Brief technical analysis:
Looking at the 4-hour chart: the bulls’ momentum has once again fluctuated and pulled up, the market is bullish, and the short-term bulls continue to climb. The MACD indicator is in the bullish zone and the RSI indicator is hovering weakly above the 50 balance line;
Long and short turning point: 80.389
Suppression: 81.201, 81.754
Support: 79.854, 79.353
Trading strategy: Bullish above 80.389, target 81.201, 81.754
Alternative strategy: bearish below 80.389, target 79.854, 79.353
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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