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Ukoil: low shock up

2022-09-06
488
Fundamental analysis:

The oil distribution remained volatile around 95.707. Investors' worries about the economic recession in the euro zone and the United Kingdom lingered, slightly limiting the rise of oil prices. However, on the whole, after the oil price held the key support last week, the possibility of recovering from the market shock has increased.


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



Technical analysis:


According to the 4-hour chart, the low-end Bulls' dynamic narrow range consolidation is slowly upward, the short-term bulls are waiting for an opportunity to enter the market, the MACD index is in the short area, and the consolidation is slowly upward, and the RSI index is in the weak position near the 50 equilibrium line;


Long and short turning point: 95.221


Pressing position: 96.731, 98.007


Support position: 94.172, 93.170


Trading strategy: bullish above 95.221, target 96.731, 98.007


Alternative strategy: bearish below 95.221, target 94.172, 93.170

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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