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Oil distribution: callback upward
2022-06-28
1286
Fundamental analysis:
The oil distribution remained volatile around 112.340. The United Arab Emirates and Saudi Arabia have been regarded as the only two countries in the organization of Petroleum Exporting Countries (OPEC) with spare capacity, which can make up for the loss of supply in Russia and the weak output of other member countries.
Oil distribution ukoil - 4-hour K-line diagram display:
Technical analysis:
According to the 4-hour chart, the upper rail section of the Bollinger belt index channel continued to rise, the short-term bull showed signs of continuing to move upward, the Bollinger belt index continued to open its mouth, the low-level Bull Power of the MACD index continued to move upward to hover above the 0 axis, and the RIS index was arranged above the 50 equilibrium line;
Multi empty turning point: 111.589
Pressing position: 113.604, 114.994
Support position: 110.199, 109.052
Trading strategy: bullish above 111.589, target 113.604, 114.994
Alternative strategy: bearish below 111.589, target 110.199, 109.052
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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