- 50:
- 50
- 40:
- 40
- 30:
- 30
Net longs rise to monthly highs, but oil prices may fall further 3 Forbes magazine financial analysts pointed out that speculative trading is the main driver of the latest round of oil price recovery. Over the past three months, fund managers have expanded their long positions in crude oil Three times, the net long position exceeds hands, which is the highest since January 2019 and is close to the level before the oil price crash. Historical data shows that fund managers are always long at high levels. Considering that the fundamentals have not improved, oil prices will continue to rise in the next few months to a year. It may fall to $3/barrel.
The U.S. first-quarter economic growth forecast is raised from .3 to . Business investment, residential spending and net exports are expected to show some strength, while inventory levels are expected to weaken moderately.
Technical analysis of spot asphalt
After experiencing a bullish surge last Wednesday, technical indicators pulled back and repaired last Friday. From the overall trend, bullish power is still accumulating, and the pullback is limited, supported by the moving average. At this position on the day, the moving averages of other time periods are showing an upward trend. The golden cross indicator in the attached picture is slowly rising, the red kinetic energy is shrinking, and the stochastic indicator is flattening and has a converging trend
From the four-hour chart, the Bollinger Bands open upward, and the line After hitting a high point yesterday, it was suppressed by the upper side and adjusted back. It is running between the middle and upper Bollinger rails. The daily moving average is turning downward and is about to cross the daily moving average. The attached chart is running upward, the red kinetic energy is shrinking, and the stochastic indicator is moving downward. Comprehensive It seems that the price will continue to rise and require a certain correction. In terms of operation, it is recommended to mainly go long on the correction.
Suggestions for spot asphalt operation
, enter long order, stop loss 1 point, target
, enter short order, stop loss 1 point, target