UKOIL: The rebound continues to be short

A brief analysis of the fundamentals:

The latest research by fund managers judged that in the context of global central bank tightening, the pressure of economic slowdown has increased, which has brought heavy pressure on oil prices. International oil prices have continued to adjust and fell for three consecutive weeks from a high level, the first monthly decline this year. In the opinion of analysts, after the short-term further adjustment of international oil prices, the high volatility of oil prices around the high and high center will continue under the pattern of tight global energy supply.

UK crude oil UKOIL 4-hour chart

A brief technical analysis:

Looking at the 4-hour chart: The short-term exchange rate moves from the lower Bollinger rail to the middle rail, testing the middle rail, the Bollinger indicator diverges and moves down, the MACD volume energy column shrinks, the RSI rises slightly, and the probability of weakening again after a short-term rebound is relatively high. big.

Long-short turning point: 117.00

Resistance: 121.00 125.00

Support: 113.00 109.00

Trading strategy: Bearish below 117.00, target 113.00, 109.00

Alternative strategy: bullish above 117.00, target 121.00, 125.00