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UKOil: high finishing

2023-04-16
936
Fundamental analysis:

Brent oil remained volatile around 86.450. The IEA monthly report emphasized that Russia's oil exports in March rose to the highest level since April 2020, and oil shipments increased by 600,000 barrels per day. The flow of Russian oil products has returned to the level before the Russia-Ukraine conflict. level.

Cloth oil UKOil - 4-hour K-line chart shows:



Brief technical analysis:

The 4-hour chart shows: high short-term narrow-range consolidation, market short momentum began to emerge slowly, bulls gradually weakened, MACD index remained in the bullish area, and RSI index hovered above the 50 balance line;

Resistance: 87.466 88.172

Support levels: 85.541 84.804

Trading strategy: bearish below 86.671, target 85.541 84.804
Alternative strategy: call above 86.671, target 87.466 88.172

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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