USOil: Shorts plummet
Crude oil remained volatile near 85.181. OPEC monthly report: it is estimated that the growth rate of global crude oil demand in 2022 is expected to be 2.55 million barrels per day. It is estimated that the global crude oil demand in 2022 will be 99.57 million barrels/day, compared with 99.67 million barrels/day previously.
Crude oil USOil - 4-hour K line chart shows:
The 4-hour chart shows that the momentum of short positions has fallen rapidly, and the short-term decline may continue. The market as a whole is in a downward trend of short positions, and the MACD index is in a weak position at the bottom of the 0 axis;
Empty turning point: 85.459
Pressing: 86.011, 86.546
Support: 84.632, 84.138
Trading strategy: 85.459 lower bearish, target 84.632, 84.138
Alternative strategy: bullish above 85.459, target 86.011, 86.546
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