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Oil distribution: continuous decline
2022-07-13
1279
Fundamental analysis:
The oil distribution remained volatile around 99.012, and the crude oil price was still under extreme pressure. With the decline of consumer confidence and the epidemic situation, the market was still on the defensive.
Oil distribution ukoil - 4-hour K-line diagram display:
Technical analysis:
According to the 4-hour chart, the momentum of short positions continues to fluctuate downward, the low level in the early stage is about to break, and there is a trend of continuing to move downward. The MACD index is in the short position area, maintaining a concussion downward, and the RSI index is in the weak consolidation below the 50 equilibrium line;
Long short turning point: 99.714
Pressing position: 101.317, 103.054
Support position: 97.623, 96.409
Trading strategy: bearish below 99.714, target 97.623, 96.409
Alternative strategy: bullish above 99.714, target 101.317, 103.054
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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