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UKOil: high finishing
2023-07-27
847
Fundamental analysis:
Brent oil remained volatile around 82.912, and EIA reported that the U.S. Strategic Petroleum Reserve (SPR) inventory remained unchanged at 346.8 million barrels for the week of July 21. In the United States, the EIA strategic oil reserve inventory in the week to July 21 was 00,000 barrels, the previous value was 1,000 barrels.
Cloth oil UKOil - 4-hour K-line chart shows:
Brief technical analysis:
The 4-hour chart: after a short-term rise at a high level, it encountered resistance and sorted out, and the market’s bearish sentiment gradually emerged. There are signs of continued retracement in the short term.
Resistance levels: 83.676 84.182
Support levels: 82.143 81.934
Trading strategy: bearish below 83.125, target 82.143 81.934
Alternative strategy: call above 83.125, target 83.676 84.182
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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