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UKOil: Lows climb
2023-06-29
913
Fundamental analysis:
Brent oil remained volatile around 73.993, and the U.S. crude oil exports in the week to June 23 were the highest since the week of February 24, 2023; the U.S. commercial crude oil inventory excluding strategic reserves in the week to June 23 was January 2023 The lowest since the week of the 27th.
Cloth oil UKOil - 4-hour K-line chart shows:
Brief technical analysis:
Looking at the 4-hour chart: the momentum of low-level bulls is rising strongly, the short-term bullish sentiment is still there, the market bulls are constantly pulling up, the MACD indicator is in the short-selling area to maintain consolidation, and the RSI indicator is hovering around the 50 balance line;
Resistance: 74.366 74.714
Support levels: 73.416 73.057
Trading strategy: Bullish above 73.775, target 74.366 74.714
Alternative strategy: bearish below 73.775, target 73.416 73.057
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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