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UKOil: Bulls up
2023-07-14
846
Fundamental analysis:
Brent oil remained volatile around 81.625. OPEC Monthly Report: The growth rate of global oil demand in 2024 will be 225 barrels per day.
Cloth oil UKOil - 4-hour K-line chart shows:
Brief technical analysis:
Looking at the 4-hour chart: the bullish momentum continues to rise at a high level, the market is shrouded in bullish sentiment, and there is a trend of continuing to climb in the short term. The MACD indicator is at a high level in the bullish zone, and the RSI indicator is hovering near the 80 balance line at the high level in the bullish zone;
Resistance levels: 82.163 82.608
Support levels: 80.761 80.231
Trading strategy: Bullish above 81.292, target 82.163 82.608
Alternative strategy: bearish below 81.292, target 80.761 80.231
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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