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U.S. firmly curbs energy prices, Brent crude hits gains
2022-06-15
67501
A brief analysis of the fundamentals:
Brent crude futures settled down $1.10 at $121.17 a barrel after rising more than 2 percent earlier in the session. There are signs that Democrats are considering more energy legislation as they and the White House face increasing pressure to curb energy costs and inflation. At the same time, fears that the Federal Reserve will raise interest rates more than expected have weighed on the market.
UK crude oil UKOIL 4-hour chart
Technical analysis: Looking at the 4-hour chart, oil prices rose and fell, and then fell rapidly after short-term strength. The MACD volume column has insufficient kinetic energy, and the RSI indicator has weakened, and the probability of continuing to weaken within the day is high.
Long-short turning point: 115.00
Resistance: 118.00 122.00
Support: 111.00 107.00
Trading Strategy: Bullish above 115.00, target 118.00 122.00
Alternative strategy: Bearish below 115.00, target 111.00 107.00
The above analysis is a personal opinion and is for reference only.
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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