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USOil: low down

2023-06-28
866
Fundamental analysis:

Crude oil remained volatile around 67.941, and the market was still worried about the possible disruption of Russian oil supply, and investors began to pay attention to the tightening of supply and demand as Saudi Arabia began to cut production and the peak gasoline demand in the United States approached in summer.

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



Brief technical analysis:

Looking at the 4-hour chart: the short-term momentum continues to fluctuate and continue to decline, the short-term decline may continue, the market as a whole is in a continuous downward trend, the MACD indicator is in the short zone and the RSI indicator is in the short zone and fluctuates;

Resistance levels: 68.536 68.917

Support levels: 67.555 67.186

Trading strategy: bearish below 68.144, target 67.555 67.186
Alternative strategy: call above 68.144, target 68.536 68.917

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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