简体中文
ภาษาไทย
繁體中文
Indonesia
UKOil: low rise
2023-08-18
813
Fundamental analysis:
Brent oil remained volatile around 83.774. Saudi Arabia began to unilaterally voluntarily cut production by 1 million barrels per day in July "to support the stability of the oil market." The average oil production in July, August and September was about 9 million barrels per day. The unilateral rate cut was originally scheduled to continue in July, but it was extended twice, once to August and then to September.
Cloth oil UKOil - 4-hour K-line chart shows:
Brief technical analysis:
Looking at the 4-hour chart: the low-level bullish momentum is rising strongly, short-term bullish sentiment emerges, the market bullish momentum maintains shocks and moves upward, the MACD indicator is in the short area and maintains consolidation, and the RSI indicator is hovering weakly below the 50 balance line;
Resistance: 84.063 84.403
Support levels: 83.276 82.925
Trading strategy: Bullish above 83.627, target 84.063 84.403
Alternative strategy: bearish below 83.627, target 83.276 82.925
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.
Free AccessDaily Trading Strategy
Download Now
CM Trade Mobile Application
Economics Calendar
More
