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Ukoil: short momentum continues to fall
2022-08-05
1238
Fundamental analysis:
The oil distribution remained volatile around 87.774, and the path of Russian crude oil flowing to the Asia Pacific region has been fully opened. After the market stopped importing 90% of Russian crude oil before the end of the year of the European Union, it may be restrained by the marginal bad of Russian oil going south for a long time in the future, especially likely to dilute the seasonal peak season in the second half of the Asia Pacific region.
Oil distribution ukoil - 4-hour K-line diagram display:
Technical analysis:
According to the 4-hour chart, the market short momentum continued to fluctuate and decline, and there was no sign of stopping in the short-term decline, and the short downward trend was good. MACD index was in the weak downward movement in the short area, and RSI index was in the weak downward movement in the short area;
Long short turning point: 93.838
Pressing position: 94.921, 95.949
Support position: 92.070, 91.005
Trading strategy: bearish below 93.838, target 92.070, 91.005
Alternative strategy: bullish above 93.838, target 94.921, 95.949
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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