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UKOil: bulls pull up
2023-01-13
873
Fundamental analysis:
Brent oil remained volatile around 83.883, and the market's optimism about fuel demand growth in 2023 continued to heat up. The market was also worried that Europe and the United States would continue to impose more sanctions on Russia, and the supply side might be further tightened. Goldman Sachs also raised its oil price forecast. The short-term oil market is biased long.
Cloth oil UKOil - 4-hour K-line chart shows:
Brief technical analysis:
Looking at the 4-hour chart: the upward trend of the bulls is in good shape, the short-term bullish sentiment remains, the bulls in the market continue to climb, the MACD indicator is in the bullish zone and continues to rise, and the RSI indicator is in the bullish zone for consolidation;
Long-short turning point: 83.538
Suppression: 84.364, 85.014
Support: 82.940, 82.290
Trading strategy: Bullish above 83.538, target 84.364, 85.014
Alternative strategies: bearish below 83.538, target 82.940, 82.290
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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