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UKOil: Move up high

2023-04-02
959
Fundamental analysis:

Brent crude oil remained volatile around 79.858, and Brent crude oil has recovered nearly $7 after falling to nearly $70 on March 20, as concerns about the global banking crisis eased and exports from the Iraqi Kurdistan region stopped It also curbs supply.

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



Brief technical analysis:

Looking at the 4-hour chart: the momentum of the high-level bulls keeps oscillating and moving up, the market is still bullish, the short-term bulls continue to rise, the MACD indicator is in the bullish zone and the RSI indicator is hovering in the bullish zone;

Resistance levels: 80.290 80.751

Support: 79.008 78.440

Trading strategy: Bullish above 79.539, target 80.290 80.751
Alternative strategy: bearish below 79.539, target 79.008 78.440

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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