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USOil: Bulls up
2023-06-30
894
Fundamental analysis:
Crude oil remained volatile around 69.770. As the United States enters the driving season, direct demand for fuel will remain firm, but the global economy will slow down in the second half of this year, reducing oil demand.
Crude oil USOil - 4-hour K-line chart shows:
Brief technical analysis:
Looking at the 4-hour chart: the momentum of the bulls remains volatile and rising, the short-term bullish sentiment remains, the bulls in the market continue to rise, and there is a trend of continuing to move upward in the short term, the MACD indicator maintains and moves up to the 0 axis, and the RSI indicator is in a weak order on the side of the 50 balance line ;
Resistance: 70.148 70.497
Support levels: 69.208 68.891
Trading strategy: Bullish above 69.567, target 70.148 70.497
Alternative strategy: bearish below 69.567, target 69.208 68.891
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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