简体中文
ภาษาไทย
繁體中文
Indonesia
UKOIL: Structural weakness persists
2022-08-01
1417
A brief analysis of the fundamentals:
U.S. GDP in the second quarter recorded a negative value. More aggressive tightening policies by major Western central banks have restricted economic activity, threatened global economic growth prospects, and will reduce fuel demand, which has raised market concerns about a U.S. and even global recession. Conducive to crude oil demand, limiting the rise in oil prices.
UK crude oil UKOIL 4-hour chart
A brief technical analysis:
4-hour chart: The short-term night market quickly rose and then weakened again. The medium-term graphic structure was still weak, and the trend line was broken. The MACD volume and energy column shrunk slightly below the 0-axis, and the RSI weakened slightly. The short-term oil price rebounded and the downside probability larger.
Long-short turning point: 109.00
Resistance: 116.00 125.00
Support: 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.
Free AccessDaily Trading Strategy
Download Now
CM Trade Mobile Application
Economics Calendar
More
