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UKOil: Tidy up move
2023-07-30
806
Fundamental analysis:
Brent oil remained volatile around 84.453. Four leading oil companies in Pakistan will join hands with Saudi Arabian state-owned oil company Aramco to build a new oil refinery project worth US$10 billion in Pakistan's strategic Gwadar port.
Cloth oil UKOil - 4-hour K-line chart shows:
Brief technical analysis:
The 4-hour chart: the high-level bulls are finishing slowly upwards, the market bulls are constantly moving upwards, and there are signs of continuing to move upwards in the short term, the MACD indicator is in the bullish zone to maintain consolidation, and the RSI indicator is hovering in the bullish zone;
Resistance levels: 84.853 85.216
Support levels: 83.864 83.457
Trading strategy: Bullish above 84.259, target 84.853 85.216
Alternative strategy: bearish below 84.259, target 83.864 83.457
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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