CM Trade

Download APP to receive bonus

GET

Ukoil: high pressure above

2022-08-26
1282
Basic analysis:


ANZ analysts Daniel Hynes and Soni Kumari said that if an agreement is reached, it may dampen market sentiment and lower prices in the short term, because the agreement improves the prospects for the recovery of 1 million barrels of Iranian oil exports per day. "Nevertheless, this will not offset the tension caused by the decline in Russian supply.


UK crude oil ukoil 4-hour chart


Technical analysis:


According to the 4-hour chart, the short-term price starts to fall, the medium-term graph structure is neutral, the MACD energy column is slightly reduced on the 0 axis, the RSI is sorted downward, and the probability of further adjustment of the short-term oil price is large.


Long and short turning point: 101.10


Resistance level: 107.55 114.77


Support position: 94.40 87.00


Trading strategy: bearish below 101.10, target 94.40, 87.00


Alternative strategy: bullish above 101.10, target 107.55, 114.77

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.

Free Access
Daily Trading Strategy
Download Now

CM Trade Mobile Application

Economics Calendar

More