Daily Analysis: UKOIL ( Sep 09 2022 )
The rise in crude inventories will likely put further pressure on Brent as Russian oil supply recovers and worries about virus lockdowns in China temper demand.
Technically, 50-Daily Moving Average (DMA) crossed the 200 DMA for the downside. If UKOIL stays below $89, the selling pressure may be accelerated.
- Support: 87.25 – 84.70 – 81.60
- Resistance: 89.90 – 92.95 – 93.80