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Ukoil: low bulls move up slowly
2022-08-09
1288
amental analysis:
The oil price fluctuated around 96.322. Goldman Sachs said that it expected the Brent price to rebound to much higher than the forward market level. Its forecast for the third quarter and the fourth quarter is now $110-125 per barrel, compared with $140-130 per barrel before. The Brent crude oil price is expected to be $125 per barrel in 2023, which is consistent with the previous forecast.
Oil distribution ukoil - 4-hour K-line diagram shows:
Technical analysis:
According to the 4-hour chart, after the low level is maintained in a narrow range, the Bulls' power starts to move up slowly, the MACD indicator keeps moving up in the short area, and the RSI indicator hovers around the 50 equilibrium line;
Long and short turning point: 95.594
Pressing position: 97.376, 98.445
Support position: 94.443, 93.429
Trading strategy: bullish above 95.594, target 97.376, 98.445
Alternative strategy: bearish below 95.594, target 94.443, 93.429
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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