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UKOil: high position down

2022-12-23
909
Fundamental analysis:
Cloth oil remained oscillating around 81.599, a powerful winter storm hit the United States, sub-zero temperatures are expected to extend southward to Texas, Florida and eastern states are expected to hit record low temperatures, and demand for heating oil will soar.

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



Brief technical analysis:
Looking at the 4-hour chart: the high-level short-term momentum has fallen sharply, the short-term decline may continue, the market's short-term sentiment is good, the MACD indicator is in the bullish area, and the RSI indicator is hovering weakly on the side of the 50 balance line;
Long-short turning point: 81.840
Suppression: 82.501, 83.112
Support: 81.018, 80.454
Trading strategy: bearish below 81.840, target 81.018, 80.454
Alternative strategies: Bullish above 81.840, target 82.501, 83.112

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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