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UKOil: High level earthquake

2022-10-28
573
Fundamental analysis:

The oil distribution remained volatile near 94.592. The World Bank warned that any plan would only work if the emerging market economies actively participated. Russia has previously said that it will not trade with countries participating in the price ceiling.



Oil distribution UKOil – 4-hour K line diagram shows:



Technical analysis:


The 4-hour chart shows that the power of high bulls keeps moving up, the short-term bullish mood remains unchanged, the market bulls continue to move up, the MACD index hovers on the top of the 0 axis, and the RSI index is in the 50 balanced online weak sorting;


Empty turning point: 94.205


Pressing: 95.344, 95.921


Support: 93.562, 92.820


Trading strategy: bullish above 94.205, with goals of 95.344 and 95.921


Alternative strategy: bearish at 94.205, with goals of 93.562 and 92.820

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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