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UKOil: low position weak
2022-12-08
990
Fundamental analysis:
Brent oil remained volatile around 77.355. The European Union announced on the 7th that it plans to implement the ninth round of sanctions against Russia. It plans to list more individuals and entities in Russia as targets of sanctions and prohibit the export of drone engines to Russia.
Cloth oil UKOil - 4-hour K-line chart shows:
Brief technical analysis:
Looking at the 4-hour chart: the low-level short-term dynamics remain volatile and downward, and the short-term decline may continue. The overall short-term situation in the market is good, the MACD indicator is at a low level in the short-selling area, and the RSI indicator is hovering at a low level in the short-term area;
Long-short turning point: 77.891
Suppression: 78.839, 79.761
Support: 76.629, 75.594
Trading strategy: bearish below 77.891, target 76.629, 75.594
Alternative strategy: Bullish above 77.891, target 78.839, 79.761
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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