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Oil distribution: downward narrow amplitude oscillation
2022-07-22
1217
Fundamental analysis:
The oil distribution remained volatile around 104.057, and the "beixi-1" natural gas pipeline, which transmits natural gas from Russia to Germany, ended its annual routine maintenance and resumed gas supply. Mueller, director of the federal network bureau of the German Energy Agency, said that the current natural gas transmission volume of "beixi-1" was higher than expected.
Oil distribution ukoil - 4-hour K-line diagram display:
Technical analysis:
Looking at the 4-hour chart: the high short selling momentum remains volatile, the downward trend continues, and the short-term decline may continue. The market as a whole is still weak. The MACD index is weak on the upper side of the 0 axis, and the RSI index is narrow under the 50 equilibrium line;
Long short turning point: 104.739
Pressing position: 106.265, 107.601
Support position: 102.564, 101.114
Trading strategy: bearish below 104.739, target 102.564, 101.114
Alternative strategy: bullish above 104.739, target 106.265, 107.601
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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