CM Trade

Download APP to receive bonus

GET

Goldman Sachs raised oil distribution to $135 / barrel

2022-06-09
971
Fundamental analysis:

The oil distribution remained volatile around 123.779. Goldman Sachs predicted that the Brent crude oil price would need to reach an average of $135 per barrel from the second half of 2022 to the first half of 2023 to finally normalize the inventory before the end of next year, which was $10 / barrel higher than the previous forecast.


Oil distribution ukoil - 4-hour K-line diagram display:



Technical comments: the upper rail section of the Bollinger belt index channel continued to fluctuate and rise, and the high level reached the node near 124.321. The Bollinger belt index continued to move upward in an upward trend. The MACD index continued to move upward in the long area, and the RSI index continued to rise in the long area;


Multi empty turning point: 123.062


Pressing position: 125.490, 126.701


Support position: 121.623, 120.409


Trading strategy: bullish above, target


Alternative strategy: bearish below, target


The above analysis is a personal point of view and is for reference only.

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.

Free Access
Daily Trading Strategy
Download Now

CM Trade Mobile Application

Economics Calendar

More