CM Trade

Download APP to receive bonus

GET

UKOil: low down

2022-12-09
992
Fundamental analysis:
Brent oil remained volatile around 76.441, and the number of barrels of crude oil exported by Russia per day dropped by nearly 50%. Shipments to Russia's Black Sea and Baltic ports accounted for most of the decline.


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


Brief technical analysis:
Looking at the 4-hour chart: The low-level short-term momentum remains volatile and downward, and the short-term decline may continue. The overall short-term situation in the market is good. The MACD indicator is in the low-level consolidation of the short-selling area, and the RSI indicator is hovering at the low-level and weak in the short-term area;
Long-short turning point: 73.827
Suppression: 77.861, 78.839
Support: 75.594, 74.726
Trading strategy: bearish below 73.827, target 75.594, 74.726
Alternative strategy: call above 73.827, target 77.861, 78.839

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