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USOil: move high
2023-07-23
868
Fundamental analysis:
Crude oil remained volatile around 76.883. The Organization of the Petroleum Exporting Countries (OPEC) and the International Energy Agency (IEA) said that it is expected that China's demand will continue to grow in the second half of this year and will remain the main driving force for global growth.
Crude oil USOil - 4-hour K-line chart shows:
Brief technical analysis:
Looking at the 4-hour chart: the bullish momentum remains high and fluctuates upwards, the short-term bullish sentiment remains, the bulls in the market continue to rise, the MACD indicator is in the bullish zone and is rising slowly, and the RSI indicator is in the bullish zone and is constantly moving up;
Resistance levels: 77.256 77.622
Support: 76.347 76.006
Trading strategy: Bullish above 76.688, target 77.256 77.622
Alternative strategy: bearish below 76.688, target 76.347 76.006
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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