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USOil: Bulls up
2023-07-06
888
Fundamental analysis:
Crude oil remained volatile around 71.809. Given the International Energy Agency's outlook for a tightening oil market in the second half of 2023, global oil inventory trends may soon become as important as the impact of OPEC+ production cuts and macro policies on the market.
Crude oil USOil - 4-hour K-line chart shows:
Brief technical analysis:
Looking at the 4-hour chart: the bullish momentum continues to fluctuate and rise, the short-term bullish sentiment continues, the market bulls are constantly pulling up, the MACD indicator is in the bullish zone and the RSI indicator is in the bullish zone to maintain shocks;
Resistance: 72.140 72.434
Support levels: 71.301 71.007
Trading strategy: Bullish above 71.614, target 72.140 72.434
Alternative strategy: bearish below 71.614, target 71.301 71.007
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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