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USOIL; Upward attack officially started

2022-10-27
1094
Basic analysis:

The Syrian National News Agency reported on October 26 local time that the convoy of illegal U.S. troops stationed in Hasek Province in northeastern Syria transported stolen oil and wheat from the local area to the U.S. military base in northern Iraq via the illegal Walid crossing point on the Syrian Iraqi border. It is reported that the fleet consists of 22 oil tankers and trucks.


US Oil Daily Chart


Technical analysis:


The daily chart shows that the oil price started to rise after the low level consolidation, the MACD energy column hovered near the 0 axis, the RSI index rose slightly, and the short-term oil price continued to rebound and attack more likely.


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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