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Ukoil: high strong pull up

Fundamental analysis:

The oil distribution remained around 104.891, and the natural gas storage facilities in Germany were filling up faster than planned. It is expected that the largest economy in Europe will avoid serious natural gas shortage in this winter. Serious clashes broke out in the Libyan capital last weekend. The market is worried that there will be a new interruption in crude oil supply.

Oil distribution ukoil - 4-hour K-line diagram shows:

Technical analysis:

According to the 4-hour chart, the bull power keeps moving upward in a step like manner, the short-term bullish sentiment is still in the market, the overall bull trend of the market is good, the MACD indicator is in the bull region, and the RSI indicator is in the bull region, and the consolidation is slow and upward;

Long and short turning point: 104.241

Pressing position: 105.876, 106.820

Support position: 103.292, 102.402

Trading strategy: bullish above 104.241, target 105.876, 106.820

Alternative strategy: bearish below 104.241, target 103.292, 102.402

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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