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UKOil: upside high

2023-01-24
894
Fundamental analysis:

Cloth oil remained volatile around 88.135. Klaus-Dieter Mobach, the outgoing CEO of German energy giant Uniper, said that the Nord Stream pipeline could be repaired within a year, but it is not clear whether Germany is willing to accept Russia's natural gas. Uniper was Russia's largest gas customer until Moscow cut off Nord Stream.

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



Brief technical analysis:

Looking at the 4-hour chart: the bullish momentum continues its upward trend, the channel continues to fluctuate and rise, the short-term bullish sentiment is shrouded, the bulls in the market continue to climb, the MACD indicator is in a narrow range in the bullish zone, and the RSI indicator is hovering in the bullish zone;

Long-short turning point: 87.831

Suppression: 88.889, 89.490
Support: 87.212, 86.513

Trading strategy: Bullish above 87.831, target 88.889, 89.490
Alternative strategy: bearish below 87.831, target 87.212, 86.513

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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