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USOil: move high
2023-07-14
926
Fundamental analysis:
Crude oil remained volatile around 77.181. OPEC Monthly Report: OPEC+'s preventive measures and production reduction measures have added stability to the market. Based on this, it is expected that the "solid" market fundamentals in 2023 will continue until 2024.
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 at a high level, the short-term bullish sentiment remains, the market bulls continue to climb, the MACD indicator is at a high level in the bullish zone, and the RSI indicator is hovering near the 80 balance line in the high overbought zone in the bullish zone;
Resistance levels: 77.650 78.141
Support levels: 76.352 75.874
Trading strategy: Bullish above 78.847, target 77.650 78.141
Alternative strategy: bearish below 78.847, target 76.352 75.874
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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