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UKOIL: Roll short after rebound
2022-11-22
1039
Basic analysis:
The rebound of the US dollar put pressure on oil prices, and refineries raised their inventories before the EU embargo on Russian crude oil on December 5, easing the tight supply of European crude oil; The US crude oil drilling data continued to climb, and the market's worries about the epidemic situation of Asian powers also weighed on the demand prospect
UKOIL Daily Chart
Technical analysis:
The daily chart shows that the short-term price is rising rapidly after accelerating its downward trend, the short-term graphic structure is still in decline, the MACD energy column is under zero axis, the RSI continues to operate at a low level, the short-term oil price has further rebounded to attack demand, and the medium-term is still rolling short.
Empty turning point: 99.00
Resistance level: 105.00 112.50
Support position: 92.00 85.00
Trading strategy: bearish under 99.00, target 92.00, 85.00
Alternative strategy: bullish above 99.00, target 105.00, 112.50
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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