Daily Analysis: UKOIL ( Sep 07 2022 )
The black gold was last traded at 91.55 level. Due to the fact that the lockdown in Chengdu give ways to China’s growth fears. Brent ignores the output cut decision from the Organization of the Petroleum Exporting Countries and allies including Russia, known collectively as OPEC+ Technically, 88.40 is seen as a support level. If it is broken, the selling pressure will be on the increase.
- Support: 88.40 – 86.75 – 84.60
- Resistance: 92.85 – 94.25 – 96.75