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UKOil: Bears move down

Fundamental analysis:

Brent oil remained volatile around 82.066. European countries are highly dependent on Russia's energy supply and encountered a severe energy crisis due to the promotion of "decoupling" of Russian energy. American energy companies took the opportunity to sell a large amount of high-priced oil and gas to Europe and made a lot of money.

Cloth oil UKOil - 4-hour K-line chart shows:

Brief technical analysis:

Looking at the 4-hour chart: the short-term trend continues to move downward, the short-term decline may continue, the market's short-term decline continues, the MACD indicator is hovering below the 0 axis, and the RSI indicator is finishing below the 50 balance line;

Long-short turning point: 82.246

Suppression: 82.671, 83.097
Support: 81.687, 81.285

Trading strategy: bearish below 82.246, target 81.687, 81.285
Alternative strategy: call above 82.246, target 82.671, 83.097

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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