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UKOil: Narrow finishing
2022-12-21
984
Fundamental analysis:
Brent oil remained volatile around 79.787. Before the European Union banned imports from Russia on February 5, Asia's fuel oil imports from Russia rose to a record 736,000 barrels per day in October, up from 410,000 tons as of the 13th of this month.
Cloth oil UKOil - 4-hour K-line chart shows:
Brief technical analysis:
Looking at the 4-hour chart: In the short-term, the short-term adjustment and translation are maintained, and the long-term momentum of the market is in a state of anxiety. The long-short momentum has not emerged yet. The MACD indicator is hovering weakly near the 0 axis, and the RSI indicator is hovering weakly near the 50 balance line;
Long-short turning point: 79.995
Suppression: 81.002, 82.016
Support: 78.707, 77.826
Trading strategy: bearish below 79.995, target 78.707, 77.826
Alternative strategy: call above 79.995, target 81.002, 82.016
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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