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UKOil: wide shock
2023-07-07
875
Fundamental analysis:
Brent oil remained volatile around 76.550. EIA report: U.S. crude oil exports decreased by 1.437 million barrels per day to 3.901 million barrels per day in the week of June 30, and commercial crude oil imports in the week of June 30 excluding strategic reserves were 7.038 million barrels per day day, an increase of 458,000 barrels per day from the previous week.
Cloth oil UKOil - 4-hour K-line chart shows:
Brief technical analysis:
Looking at the 4-hour chart: the V-shaped shock of the high-level bullish momentum rebounded, the short-term bullish sentiment continued, the market continued to be bullish, the MACD indicator was in the bullish zone and maintained a high level, and the RSI indicator was in the bullish zone and remained hovering;
Resistance levels: 76.888 77.216
Support levels: 76.002 75.622
Trading strategy: Bullish above 76.392, target 76.888 77.216
Alternative strategy: bearish below 76.392, target 76.002 75.622
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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