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Ukoil: low shock down

Fundamental analysis:

Oil distribution remained volatile around 87.643, the soaring dollar and global demand worries put pressure on oil prices, although the threat of Russian supply disruption still exists. With central banks raising interest rates to curb inflation, investors are worried that the economy may fall into recession.

Oil distribution ukoil - 4-hour K-line diagram shows:

Technical analysis:

According to the 4-hour chart, the short-term decline trend continues to move downward, the market is shrouded in short sentiment, the MACD indicator is in the short area to maintain consolidation, and the RSI indicator is in the short area to maintain wandering;

Long and short turning point: 88.419

Pressing position: 89.748, 91.008

Support position: 86.333, 85.144

Trading strategy: 88.419 lower bearish, target 86.333, 85.144

Alternative strategy: bullish above 88.419, target 89.748, 91.008

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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