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USOil: wide amplitude vibration moves down

2022-09-21
1171
Fundamental analysis:

Crude oil remained volatile around 84.210. With the approaching of autumn and winter, the demand for energy in many parts of the Northern Hemisphere became stronger. For the first time since three weeks ago, German natural gas suppliers have re ordered "Beixi No.1" natural gas from Russia.


Crude oil USOil – 4-hour K line chart shows:



Technical analysis:


The 4-hour chart shows that the short-term entanglement low position wide shock, the market bearish sentiment remains, the MACD indicator is hovering under the 0 axis, and the RSI indicator is narrow under the 50 equilibrium line;


Empty turning point: 84.377


Pressing position: 85.219, 86.111


Support position: 83.245, 83.410


Trading strategy: 84.377 lower bearish, target 83.245, 83.410


Alternative strategy: bullish above 84.377, target 85.219, 86.111

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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