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USOil: pull low
2022-12-13
1007
Fundamental analysis:
Crude oil remained volatile around 73.405, and OPEC+ will continue to focus on market stability in the coming year. Insist that OPEC+ involves all members in decision-making. Collective action requires consensus, so continue to insist that every OPEC+ member, whether it is a large oil producer or a small oil producer... must participate in decision-making, and consensus has a positive impact on the market.
Crude oil USOil - 4-hour K-line chart shows:
Brief technical analysis:
Looking at the 4-hour chart: the bears continue to fluctuate downwards, the lows rise rapidly, and the bulls in the market are beginning to emerge. There are signs of continuing to move up in the short term. The MACD indicator is in the bearish area and maintains an upward movement. The RSI indicator is hovering weakly near the 50 balance line;
Long-short turning point: 73.042
Suppression: 74.182, 74.871
Support: 72.234, 71.498
Trading strategy: Bullish above 73.042, target 74.182, 74.871
Alternative strategy: bearish below 73.042, target 72.234, 71.498
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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