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UKOil: low up
2023-04-23
876
Fundamental analysis:
Brent oil remained volatile around 81.667, as weak U.S. economic data and rising U.S. gasoline inventories raised concerns about a recession and a slowdown in global oil demand. Moreover, the price of Russian oil has fallen below the price ceiling in the West, and the large supply is not subject to any restrictions.
Cloth oil UKOil - 4-hour K-line chart shows:
Brief technical analysis:
Looking at the 4-hour chart: the momentum of low-level bulls continues to fluctuate and rise, short-term bullish sentiment emerges, and bulls continue to climb. The MACD indicator is in the short-selling area to maintain consolidation, and the RSI indicator is in the short-selling area. Slow upward;
Resistance levels: 82.203 82.737
Support levels: 80.950 80.443
Trading strategy: Bullish above 81.489, target 82.203 82.737
Alternative strategy: bearish below 81.489, target 80.950 80.443
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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