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USOil: slow down
2023-08-15
765
Fundamental analysis:
Crude oil remained volatile around 82.449. Crude oil prices ignored adjustment expectations and had been in the overbought area for a while. A market correction has long been needed, but a re-examination of US economic realities may be required.
Crude oil USOil - 4-hour K-line chart shows:
Brief technical analysis:
Looking at the 4-hour chart: The short-term momentum maintains a slow and oscillating downward movement, the short-term decline may continue, the market as a whole continues to decline, the MACD indicator is hovering around the 0 axis, and the RSI indicator is in a weak order below the 50 balance line;
Resistance levels: 82.989 83.361
Support levels: 82.074 81.747
Trading strategy: bearish below 82.639, target 82.074 81.747
Alternative strategies: call above 82.639, target 82.989 83.361
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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