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USOIL； There is still room for rebound
2022-09-29
1138
Basic analysis:
The oil price rose for the second day in a row on Wednesday, rebounding from the recent decline. The reason is that the US dollar has softened from the recent rise, and the US fuel inventory data showed a larger decline than expected, and consumer demand rebounded.
US Oil Daily Chart
Technical analysis:
From the daily chart, we can see that the oil price continues to rise, the MACD energy column starts to shrink below the 0 axis, the RSI indicator is slightly stronger, and the probability of the short-term oil price continuing to rebound increases.
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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