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USOil: move high
2023-07-25
824
Fundamental analysis:
Crude oil remained volatile around 78.905, as traders waited for more signals from the Federal Reserve and the European Central Bank to raise interest rates. But tighter supplies and the benefits of China's stimulus measures limited losses in oil prices.
Crude oil USOil - 4-hour K-line chart shows:
Brief technical analysis:
Looking at the 4-hour chart: the momentum of high-level bulls continues to rise, short-term bullish sentiment emerges strongly, the market bulls continue to rise, the MACD indicator continues to rise in the bullish zone, and the RSI indicator is in the bullish zone for high consolidation;
Resistance: 79.372 79.815
Support levels: 78.181 77.698
Trading strategy: Bullish above 78.696, target 79.372 79.815
Alternative strategy: bearish below 78.696, target 78.181 77.698
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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