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UKOil: Bulls up
2023-03-02
1026
Fundamental analysis:
Brent oil remained volatile around 84.343 EIA report: The U.S. Strategic Petroleum Reserve (SPR) inventory remained unchanged at 371.6 million barrels for the week of February 24. The four-week average supply of crude oil products in the United States was 20.117 million barrels per day, a decrease of 7.44% compared with the same period last year.
Cloth oil UKOil - 4-hour K-line chart shows:
Brief technical analysis:
Looking at the 4-hour chart: the bullish momentum remains volatile and rising, the short-term bullish sentiment remains, the market as a whole is in a partial upward trend, the MACD indicator is in the bullish area and slowly rising, and the RSI indicator is on the side of the 50 balance line;
Long-short turning point: 84.118
Suppression: 84.641, 85.042
Support: 83.729, 83.352
Trading strategy: Bullish above 84.118, target 84.641, 85.042
Alternative strategy: bearish below 84.118, target 83.729, 83.352
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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