简体中文
ภาษาไทย
繁體中文
Indonesia
USOil: bearish downside
2023-06-11
899
Fundamental analysis:
Crude oil remained volatile around 70.317. The U.S. Department of Energy: will issue a new tender to purchase another 3 million barrels of crude oil for delivery to the strategic oil reserve in September. At present, 3 million barrels for supplementing the strategic oil reserve in August have been signed Crude oil purchase contracts, with an average price of $73 per barrel.
Crude oil USOil - 4-hour K-line chart shows:
Brief technical analysis:
Looking at the 4-hour chart: the short-term dynamics are moving downward, the short-term decline may continue, the market as a whole is in a wide range trend, the MACD indicator is hovering weakly below the 0 axis, and the RSI indicator is weakly finishing below the 50 balance line;
Resistance levels: 71.125 71.605
Support: 69.862 69.382
Trading strategy: bearish below 70.603, target 69.862 69.382
Alternative strategy: call above 70.603, target 71.125 71.605
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.
Free AccessDaily Trading Strategy
Download Now
CM Trade Mobile Application
Economics Calendar
More
