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UKOil: Multi head ladder ascending

2022-10-04
1246
Fundamental analysis:

The oil distribution remained volatile near 88.611. The International Energy Agency issued a quarterly report on the natural gas market, warning that Europe will face an "unprecedented" risk of natural gas shortage in this winter, and proposing to save gas.



Oil distribution UKOil – 4-hour K line diagram shows:



Technical analysis:


The 4-hour chart shows that the low position bulls' power has kept surging upward, and short-term bulls' sentiment has emerged. The MACD indicator hovers on the top of the 0 axis, and the RSI indicator is in the 50 balanced online narrow range;


Empty turning point: 88.200


Pressing position: 89.476, 90.367


Support position: 87.165, 86.274


Trading strategy: 88.200 top bullish, target 89.476, 90.367


Alternative strategy: bearish under 88.200, target 87.165, 86.274

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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