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Crude oil and asphalt plummet, what should I do if I am stuck with multiple orders?
News:
With the arrival of the Doha meeting on Sunday, which is tomorrow, Russia poured cold water on the meeting in the early stage, the Iranian oil minister did not attend the Doha meeting, and the oil price is currently plummeting. All eyes are watching the weekend. At the Petroleum Nations Meeting in Doha, investors are eagerly hoping that this meeting will enable these oil-producing tycoons to reach an agreement to freeze production and complete the redemption of oil prices. However, Russia wants to pour cold water on investors at this time. Iranian Oil Minister Dawkin did not attend the Doha meeting. On Friday, the Russian Finance Minister said that we do not expect any changes in oil prices after the Doha meeting, or anything. Room for upside.
Although countries currently hope to stabilize oil prices by freezing production, they secretly still hope to freeze other people's production instead of their own. Iraq is a typical example. In fact, Iraq's oil production has increased significantly in the second half of the year. Due to the current constraints of insufficient refining infrastructure, its production is expected to increase steadily in the rest of this year. But even so, Iraq is unwilling to sign an output freeze because they have always felt that their oil production capacity is far more than this.
There are various indications that this meeting is probably just a waste of water. Even if the production freeze is successful, how meaningful is it to freeze crude oil production at the highest monthly level (monthly crude oil production in many countries is close to the highest level in history).
Asphalt technical analysis (asphalt and crude oil have the same trend):
From the international market, the hourly chart shows that after the oil price broke through the previous shock range, it hit the integer mark and received support in the short term, rebounding to test the upper limit. There is pressure near the support line. If it does not break, the first target will be to start falling again! Picture
Judging from the daily chart, the early price of ferrous asphalt received a doji positive line. As of the closing moving average system, the system spreads upward. The daily moving average penetrates the daily moving average to form a golden cross. The golden cross runs in the attached picture, and the speed line The opening remains flat, the red kinetic energy column weakens, and the three lines of technical indicators are all near the overbought zone. Taken together, I believe that the overall asphalt price is still a bearish trend, but there is support below. In terms of operation, I recommend shorting at high levels. The key point is Pay attention to the front line and wait for a rebound if the position is not broken.
Some operating suggestions for Asphalt Hero at the opening of next week (mainly Hunan Nonferrous Metals):
, - Nearby, short in batches, the target is near -, and the stop loss zone is 3 points
, - Nearby, in batches More, the target is - near, the stop loss zone is 3 points
Technical analysis of spot copper:
Starting from Monday this week, copper has basically improved to a certain extent, after the last round of plunge. Afterwards, looking at the hourly line, after receiving an irregular doji on Monday, the market rebounded all the way as expected. At present, there is overall demand for a fall. Looking at the daily chart, the top 3 is under pressure, the moving average crosses the moving average, and it is supported near the moving average in the short term. On the whole, I believe that next week will still be dominated by high altitudes, supplemented by lows and longs.
Some operation suggestions for spot copper Xiaoyong (mainly Hunan Nonferrous Metals):
, short in batches near 3, target near 3, stop loss band at 3 points
, long in batches near 3, The target is near, stop loss points
, suggestions are for reference only, investment is risky, please be cautious when entering the market.