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UKOil: up high
2022-12-28
1001
Fundamental analysis:
Cloth oil maintains a shock around 84.393, and the situation in the oil market may tighten significantly. From mid-year onwards, demand will once again outstrip supply, already low inventories will fall further, and oil prices will rise strongly again in the first half of 2023. A barrel of Brent should hit $95 again by mid-2023.
Cloth oil UKOil - 4-hour K-line chart shows:
Brief technical analysis:
Looking at the 4-hour chart: the high-level bulls have pulled up and then retreated, the market is bullish, the MACD indicator is at a high level in the bullish zone, and the RSI indicator is hovering at a high level in the bullish zone;
Long-short turning point: 84.030
Suppression: 84.877, 85.443
Support: 83.422, 82.775
Trading strategy: Bullish above 84.030, target 84.877, 85.443
Alternative strategy: bearish below 84.030, target 83.422, 82.775
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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