The oil distribution remained around 94.293, and the resistance caused by the further slowdown of global economic activities lingered, which may still lead some people to have reservations about the more sustained rebound of oil prices. Although the western energy sanctions against Russia will further tighten the supply, the outlook for global fuel demand has darkened, limiting the rise of oil prices.
Oil distribution ukoil - 4-hour K-line diagram shows:
According to the 4-hour chart, the power of low-level bulls keeps surging upward, the short-term bulls continue to move upward, the MACD index hovers on the upper side of the 0 axis, and the RSI index is in the narrow range of the 50 equilibrium line;
Long short turning point: 93.865
Pressing position: 95.404, 96.533
Support position: 92.736, 91.607
Trading strategy: bullish above 93.865, target 95.404, 96.533
Alternative strategy: bearish below 93.865, target 92.736, 91.607