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UKOil: Bulls up
2022-12-22
977
Fundamental analysis:
Brent oil remained volatile around 82.282. Saudi Energy Minister Prince Abdulaziz said that OPEC+ member states excluded political factors from the decision-making process as well as assessment and forecast. Right decision for stability; it wouldn't be a surprise if crude oil shortages reappear in early 2023.
Cloth oil UKOil - 4-hour K-line chart shows:
Brief technical analysis:
Looking at the 4-hour chart: the bullish momentum continues to rise, short-term bullish sentiment emerges, the market bulls continue to move upwards, the MACD indicator is on the upper side of the 0 axis and slowly rising, and the RSI indicator is on the side of the 50 balance line.
Long-short turning point: 81.840
Suppression: 83.112, 84.009
Support: 81.018, 80.095
Trading strategy: Bullish above 81.840, target 83.112, 84.009
Alternative strategy: bearish below 81.840, target 81.018, 80.095
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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