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Usoil: short positions fell sharply
2022-08-31
1148
Fundamental analysis:
Crude oil fluctuated around 92.249, boosted by the news that OPEC + may reduce production in the future, and the oil price continued to rebound in the past two weeks. The director general of the International Energy Agency (IEA) believed that it was difficult for Russia to maintain its current output, which raised the concern that supply was in short supply.
Crude oil usoil - 4-hour K-line diagram shows:
Technical analysis:
According to the 4-hour chart, the short-term trend may continue. The short-term trend may continue. The short-term sentiment of the market will start to enter. The MACD indicator is in the long position and keeps the shock and slow decline. The RSI indicator is in the weak position below the 50 equilibrium line;
Long and short turning point: 92.645
Pressing position: 93.520, 94.441
Support position: 91.265, 90.489
Trading strategy: bearish below 92.645, target 91.265, 90.489
Alternative strategy: bullish above 92.645, target 93.520, 94.441
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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