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USOIL； Rebound continues to be weak
2022-09-19
1202
Basic analysis:
Because worries about the economic recession offset other positive factors, despite multiple intraday rebounds this week, crude oil prices will still fall for the third consecutive week. The recent strength of the US dollar has also put pressure on oil prices.
US Oil Daily Chart
Technical analysis:
The daily chart shows that the repeated competition for oil price is relatively strong overall, the MACD capacity column slightly shrinks below the 0 axis, and the RSI index rapidly strengthens slightly. The short-term price may be repeated, but the medium-term is still not optimistic.
Empty turning point: 97.00
Resistance level: 109.00 122.00
Support position: 86.00 75.00
Trading strategy: bearish under 97.00, target 86.00, 75.00
Alternative strategy: bullish above 97.00, target 109.00, 122.00
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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