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UKOil: low up

2022-12-13
906
Fundamental analysis:
Brent oil remained volatile around 78.208. Although the uncertainty surrounding the EU's oil sanctions on Russia and the related price ceiling kept price volatility high, so far, the impact of the sanctions on the global market has been limited.


Cloth oil UKOil - 4-hour K-line chart shows:


Brief technical analysis:
Looking at the 4-hour chart: the low-level bulls have a strong upward momentum, and the bullish sentiment in the market has begun to emerge. The short-term bulls are in good shape, the MACD indicator is in the bearish area and maintains an upward trend, and the RSI indicator is in a weak order near the 50 balance line;
Long-short turning point: 77.799
Suppression: 79.134, 80.041
Support: 76.945, 75.939
Trading strategy: Bullish above 77.799, target 79.134, 80.041
Alternative strategy: bearish below 77.799, target 76.945, 75.939

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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