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Ukoil: continuous downward consolidation of short positions
2022-09-01
1125
Fundamental analysis:
The oil distribution remained fluctuating around 94.909. EIA report: as of August 26, the EIA crude oil inventory of the United States dropped more than expected, except that the commercial crude oil inventory of strategic reserves decreased by 3.326 million barrels to 418 million barrels, a decrease of 0.79%.
Oil distribution ukoil - 4-hour K-line diagram shows:
Technical analysis:
According to the 4-hour chart, the short-term momentum moves downward in a step-by-step manner, the short-term decline has not stopped, the market short position is good, the MACD indicator is in the short area, and the shock continues to slow down, and the RSI indicator is in the lower side of the 50 equilibrium line;
Long and short turning point: 95.461
Pressing position: 96.436, 97.597
Support position: 93.905, 93.061
Trading strategy: bearish below 95.461, target 93.905, 93.061
Alternative strategy: bullish above 95.461, target 96.436, 97.597
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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