USOil: within a narrow range

Crude oil remained volatile around 74.411. Although China eased the epidemic prevention policy and once raised crude oil demand expectations, the weakening of the dollar also provided support for oil prices. However, the hawkish speeches of Fed officials made the market worry that the United States, the world's largest oil consumer, will further raise interest rates by 7 It will slow down economic growth and limit fuel demand. Global stock markets are generally suppressed, and oil prices face certain downside risks in the short term.

Brief technical analysis:

Looking at the 4-hour chart: short-term entanglements with low and narrow range fluctuations, the overall bearish sentiment in the market remains, short-term or narrow-range consolidation, MACD index is weakly hovering below the 0 axis, RSI index is weakly consolidated near the 50 balance line;

Long-short turning point: 74.617

Suppression: 75.232, 75.734

Support: 73.758, 73.137

Trading strategy: bearish below 74.617, target 73.758, 73.137

Alternative strategy: call above 74.617, target 75.232, 75.734