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Ukoil: short term is still strong
2022-08-24
1200
Basic analysis:
Bob yawger, head of energy futures of Mizuho bank, said that the prospect of recovery of Iran's crude oil supply and the fear of economic recession, as well as the continuous weekly increase in inventories in the US crude oil storage center, the easing of gasoline demand and the approach of the refinery maintenance season, have pushed the oil price down in recent weeks and set the tone for OPEC +.
UK crude oil ukoil 4-hour chart
Technical analysis:
According to the 4-hour chart, the short-term price continues to rebound, and attention is paid to whether the suppression of the long and short turning areas is effective. The MACD volume energy column is on the 0 axis, and the RSI continues to rise. The probability of the short-term oil price continuing to rebound is large.
Long and short turning point: 101.10
Resistance level: 107.55 114.77
Support position: 94.40 87.00
Trading strategy: bearish below 101.10, target 94.40, 87.00
Alternative strategy: bullish above 101.10, target 107.55, 114.77
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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