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UKOil: pull up low
2023-04-25
878
Fundamental analysis:
Brent oil remained volatile around 82.582. Russian government sources said that Russia's oil production this year is expected to exceed 480 million tons, or about 9.6 million barrels per day. The figure excludes condensate and is in line with Russia's pledge to cut output by 500,000 bpd to 9.5 million bpd from March to the end of the year.
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 momentum to rise, short-term bullish sentiment emerges, the market bulls continue to climb, the MACD indicator is in the short area and maintains consolidation, and the RSI indicator is hovering weakly near the 50 balance line;
Resistance: 83.013 83.420
Support levels: 81.935 81.554
Trading strategy: Bullish above 82.356, target 83.013 83.420
Alternative strategy: bearish below 82.356, target 81.935 81.554
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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