UKOil: Low level vibration
The oil distribution remained volatile around 93.325. Since December 5, the EU will ban the import of most Russian oil and prohibit relevant companies from providing insurance and financing for Russian oil anywhere in the world; On February 5 next year, the EU will extend the embargo to diesel, gasoline and other petroleum products.
Oil distribution UKOil – 4-hour K line diagram shows:
The 4-hour chart shows that the low position moves down again after a short-term sharp rise. The short position sentiment of the market remains unchanged, and the short-term decline may continue. The MACD indicator remains in the short position area, and the RSI indicator stays in the weak position below the 50 equilibrium line;
Empty turning point: 93.477
Pressing: 93.978, 94.449
Support: 92.839, 92.275
Trading strategy: 93.477 lower bearish, with 92.839 and 92.275 targets
Alternative strategy: bullish above 93.477, target 93.978, 94.449
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