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UKOil: Low position wide finishing
2022-09-20
1214
Fundamental analysis:
The oil distribution remained volatile near 91.704. Recent signals show that the preferred price level of Brent crude oil is about $90-100/barrel, and there is a risk that the oil price is between $120-130. Saudi Arabia will prevent this from happening, but the oil price of $100 will not have a huge impact on the global economy, and Saudi Arabia will be satisfied with this price.
Oil distribution UKOil – 4-hour K line diagram shows:
Technical analysis:
The 4-hour chart shows that the low position and wide range are maintained and consolidated, and the short-term V-shaped reverse trend is followed by consolidation. The market is still in a low position and weak. The MACD index hovers under the 0 axis, and the RSI index is consolidated near the 50 equilibrium line;
Empty turning point: 92.282
Pressing position: 93.251, 94.279
Support position: 90.518, 89.548
Trading strategy: 92.282 lower bearish, target 90.518, 89.548
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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