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Ukoil: bears continue to fall

Fundamental analysis:

The oil distribution remained volatile around 92.089. The United Kingdom will be committed to setting a ceiling on Russian oil prices led by the United States, while a senior Russian official said that the country will refuse to sell oil at the ceiling price.

Oil distribution ukoil - 4-hour K-line diagram shows:

Technical analysis:

According to the 4-hour chart, the short-term momentum keeps fluctuating and falling, and it is about to reach the nodes near the early low level. The short-term decline trend continues to move downward. The MACD indicator is in the downward position of the short area and the RSI indicator is in the downward position of the short area;

Long and short turning point: 92.639

Pressing position: 93.615, 94.564

Support position: 91.189, 90.249

Trading strategy: bearish below 92.639, target 91.189, 90.249

Alternative strategy: bullish above 92.639, target 93.615, 94.564

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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