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Ukoil: empty test near 105
2022-07-15
1217
Basic analysis:
Oil distribution futures fell 0.5% to settle at $99.1 / barrel. Both contracts hit intraday lows, lower than the closing price on February 23, that is, the day before Russia invaded Ukraine, Brent crude oil hit its lowest since February 21.
Ukoil 4-hour chart of UK crude oil
Technical analysis:
According to the 4-hour chart, the short-term price rebounded rapidly after it stopped falling, the medium-term graphic structure was still weak, and the trend line was broken. The MACD energy column contracted slightly under the 0 axis, RSI rose slightly, and the probability of short-term rebound was large.
Long short turning point: 109.00
Resistance level: 116.00 125.00
Support position: 100.00 90.00
Trading strategy: bearish below 109.00, target 100.00, 90.00
Alternative strategy: bullish above 109.00, target 116.00, 125.00
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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