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USOIL: US oil continues to be weak
2022-09-05
1453
A brief analysis of the fundamentals:
Russian Presidential Press Secretary Peskov said in a program broadcast on the "Russia-1" TV channel on the 4th that Russia will pay close attention to the EU's decision on the Russian visa policy. If the EU imposes visa restrictions on Russia, the Russian side will take severe response measures.
US crude oil USOil daily chart
A brief technical analysis:
From the daily chart: oil prices continue to be weak and re-test the previous lows, the MACD volume energy column is slightly under the 0-axis, and the RSI indicator is weakening rapidly. The short-term price may be repeated, but the medium-term is still not optimistic.
Long-short turning point: 97.00
Resistance: 109.00 122.00
Support: 86.00 75.00
Trading Strategy: Bearish below 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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