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UKOil: high finishing
2023-04-11
930
Fundamental analysis:
Brent oil remained volatile around 84.288, Royal Bank of Canada: Investors' confidence in the European natural gas market remains quite pessimistic due to recent mild weather, declining natural gas demand and sufficient inventories, lowering the 2023 Brent crude oil price forecast from $95.56 per barrel to $88.84 a barrel.
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 short-term momentum begins to emerge slowly, the market continues to retreat in the short-term, the MACD indicator is in the bullish area and is slowly declining, and the RSI indicator is hovering around the 50 equilibrium line;
Resistance: 85.309 86.082
Support levels: 83.514 82.791
Trading strategy: bearish below 84.586, target 83.514 82.791
Alternative strategy: call above 84.586, target 85.309 86.082
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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