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UKOil: shock up
2022-12-20
995
Fundamental analysis:
Brent oil remained volatile around 80.169, and the U.S. Department of Energy announced that it would start buying back oil for the Strategic Petroleum Reserve (SPR). It was the first buyback since 180 million barrels of oil were released from storage this year.
Cloth oil UKOil - 4-hour K-line chart shows:
Brief technical analysis:
Looking at the 4-hour chart: bulls are moving up within a narrow range, the bullish sentiment in the market continues, short-term bulls have signs of continuing to rise slowly, the MACD indicator is hovering around the 0 axis, and the RSI indicator is weakly finishing near the 50 balance line;
Long-short turning point: 79.668
Suppression: 81.002, 82.016
Support: 78.707, 77.826
Trading strategy: Bullish above 79.668, target 81.002, 82.016
Alternative strategy: bearish below 79.668, target 78.707, 77.826
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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