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UKOil: up high
2023-01-23
836
Fundamental analysis:
Brent oil remained volatile around 87.716, with optimism surrounding China and the United States, oil traders may now be buying on dips, and Russia's oil industry struggling due to sanctions may tighten energy market supply and demand in 2023.
Cloth oil UKOil - 4-hour K-line chart shows:
Brief technical analysis:
Looking at the 4-hour chart: the bullish momentum remains volatile and pulls up, and it is about to break through other high-level nodes in the short term, and there is a trend of continuing to pull up. The MACD indicator is hovering above the 0-axis, and the RSI indicator is in a weak consolidation above the 50 balance line;
Long and short turning point: 87.510
Suppression: 88.223, 88.889
Support: 86.868, 86.155
Trading strategy: Bullish above 87.510, target 88.223, 88.889
Alternative strategy: bearish below 87.510, target 86.868, 86.155
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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