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UKOil: high finishing
2023-01-26
887
Fundamental analysis:
Brent oil remained volatile around 86.312. The U.S. EIA crude oil inventory for the week to January 20 was 533,000 barrels, expected to be 971,000 barrels, and the previous value was 8.408 million barrels. Crude oil inventories in Cushing, Oklahoma, were 4.267 million barrels, compared with 3.646 million barrels previously.
Cloth oil UKOil - 4-hour K-line chart shows:
Brief technical analysis:
Looking at the 4-hour chart: the high level is maintained in the short term, the market as a whole is hovering after a short-term retracement, the MACD indicator is weakly finishing near the 0 axis, and the RSI indicator is weakly hovering near the 50 balance line;
Long-short turning point: 86.533
Suppression: 87.192, 87.811
Support: 85.553, 84.894
Trading strategy: bearish below 86.533, target 85.553, 84.894
Alternative strategy: call above 86.533, target 87.192, 87.811
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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