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UKOil: low down
2023-01-05
950
Fundamental analysis:
Brent oil remains volatile around 77.942. The market expects Brent crude oil prices to reach $110/barrel in 2023. The energy industry will reap strong returns this year. Crude oil will be the best-performing energy source this year, and the reopening of the world's second-largest economy will be key as demand is likely to hit record highs in the second half of the year.
Cloth oil UKOil - 4-hour K-line chart shows:
Brief technical analysis:
Looking at the 4-hour chart: the short-term momentum continues to fluctuate downward, and the short-term decline has not stopped. The market’s short-term sentiment is good, and there is a trend of continuing to move downward.
Long-short turning point: 78.329
Suppression: 78.936, 79.595
Support: 77.350, 76.918
Trading strategy: bearish below 78.329, target 77.350, 76.918
Alternative strategy: call above 78.329, target 78.936, 79.595
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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