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Ukoil: The empty side is gradually working hard

2022-08-02
1298
Fundamental analysis:

In the second quarter of the United States, GDP recorded a negative value of Western central banks to adopt a more radical tightening policy, which has limited economic activities, threatened the prospects of global economic growth, and reduced fuel demand. It is conducive to crude oil demand and limits the increase in oil prices.

British crude oil ukoil 4 hours chart


Technical analysis:

Looking at the 4 -hour chart: The short -term price continues to fall, the mid -term graphic structure is still weak, and the trend line is broken. The MACD volume energy column 0 is slightly capacity, the RSI is slightly weakened, and the probability of the short -term oil price continues to decline is greater.

Multi -time turning point: 109.00

Resistance level: 116.00 125.00

Support bit: 100.00 90.00

Trading strategy: Watch the decline under 109.00, target 100.00, 90.00

Alternative strategy: Bullies on 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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