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UKOil: shock down

2022-12-30
952
Fundamental analysis:
Oil prices remained volatile around 83.600, and pipeline operator TC Energy said it was working to restart the section of the Keystone pipeline that was shut down after a leak this month. However, a cold snap in the Arctic has forced some refineries to shut down, dampening demand for crude. Refineries continue to ramp up operations, but some of the recovery is expected to extend into January.


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


Brief technical analysis:
The 4-hour chart: the short-term dynamics fluctuated downwards and began to sort out, and the long-term dynamics showed signs of waiting for an opportunity to enter the market, but they were still in the trend of retracement and downward movement. The MACD index was hovering weakly above the 0 axis, and the RSI index was weakly organized above the 50 balance line. ;
Long-short turning point: 84.030
Suppression: 84.756, 85.443
Support: 83.010, 82.245
Trading strategy: bearish below 84.030, target 83.010, 82.245
Alternative strategy: call above 84.030, target 84.756, 85.443

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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