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UKOil: hovering high
2023-02-14
875
Fundamental analysis:
Brent oil remains volatile around 85.895. If Russia's production remains unchanged, Brent crude may only rise to $95 a barrel by December, as OPEC's stable production can only partially offset increased supply and a slowdown in long-term cost rises negative effect.
Cloth oil UKOil - 4-hour K-line chart shows:
Brief technical analysis:
Looking at the 4-hour chart: high short-term fluctuations within a narrow range, the market's bullish momentum has begun to weaken, and the short-selling momentum has signs of waiting for an opportunity to enter the market. The MACD indicator is hovering in the bullish area, and the RSI indicator is at the 50 balance line. The market is weak;
Long-short turning point: 85.149
Suppression: 86.775, 87.310
Support: 85.275, 84.766
Trading strategy: bearish below 85.149, target 85.275, 84.766
Alternative strategies: Bullish above 85.149, target 86.775, 87.310
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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