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UKOil: within a narrow range
2022-11-30
1081
Fundamental analysis:
Brent oil remained volatile around 84.871, as the impact of the global economic slowdown and new blockade measures on oil demand temporarily outweighed concerns about supply. The European Union's ban on buying Russian seaborne oil is due to take effect on Dec. 5, and the bloc is also expected to announce a price cap on Russian crude.
Cloth oil UKOil - 4-hour K-line chart shows:
Brief technical analysis:
Looking at the 4-hour chart: low-level bulls fluctuate upwards, maintain short-term shocks, the market bulls may continue to rise, the MACD indicator is in the short area and moves upward, and the RSI indicator is hovering weakly near the 50 balance line;
Long-short turning point: 84..466
Suppression: 85.855, 86.881
Support: 83.319, 82.111
Trading strategy: Bullish above 84..466, target 85.855, 86.881
Alternative strategy: bearish below 84..466, target 83.319, 82.111
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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