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USOil: move high
2023-07-13
811
Fundamental analysis:
Crude oil remained volatile around 75.833, EIA report: In the week of July 07, the United States imported 5.88 million barrels of commercial crude oil per day excluding strategic reserves, a decrease of 1.158 million barrels per day compared with the previous week, and commercial crude oil inventories excluding strategic reserves increased by 5.946 million barrels To 458 million barrels, an increase of 1.31%.
Crude oil USOil - 4-hour K-line chart shows:
Brief technical analysis:
The 4-hour chart: The bullish dynamics remain at a high level and continue to move upwards. The market is still bullish and will continue to move upwards in the short term. The MACD indicator is at a high level in the bullish zone and moves upwards gently. The RSI indicator is at a high level in the bullish zone and hovers around the 80 balance line ;
Resistance levels: 76.353 76.746
Support levels: 75.118 74.712
Trading strategy: Bullish above 75.589, target 76.353 76.746
Alternative strategy: bearish below 75.589, target 75.118 74.712
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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