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Ukoil: sell short when high firm
2022-07-28
1267
Oil prices continued to climb after the Federal Reserve decided to raise interest rates by 75 basis points as expected in an effort to cool the highest inflation since the 1980s. On Wednesday, the flow of natural gas through Beixi 1 pipeline fell to 20% of the total transportation capacity of the pipeline, while Italian oil producer Eni said that the supply of natural gas from Gazprom was reduced
Ukoil 4-hour chart of UK crude oil
Technical analysis:
According to the 4-hour chart, short-term prices rebounded slightly, but the follow-up was weak. The medium-term graphic structure was still weak, and the trend line was broken. MACD energy column contracted slightly under the 0 axis, RSI rebounded slightly, and the downward probability of short-term oil price 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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