- 50:
- 50
- 40:
- 40
- 30:
- 30
No one expects the March meeting to bring about an immediate sharp rise in oil prices, but the market hopes that this meeting will at least lay the foundation for a steady rise in oil prices in the coming months.
On the structural front, global demand for energy has stopped rising rapidly in recent years to absorb all the crude oil supplies on the market, partly due to supply from Iraq and especially the expansion of U.S. shale oil. The oversupply caused the price of oil to fall from USD/barrel on January 1 to USD/barrel on March 1. Since member states failed to reach an agreement on production cuts or freezes at a meeting held at the Vienna headquarters on March 1, oil prices began to fall in freefall.
Technical aspect:
Looking at the daily line, Ninggui Asphalt has been rising for three consecutive years, relying on the moving average and soaring all the way to new highs. The current price is going all the way. I am not worried at all. Don’t be afraid, because this is just the beginning. The big target of this wave of crude oil bulls is..., and there is still a chance to hit the super target of the US dollar! Don’t doubt that crude oil/asphalt really fluctuates like a scourge. Whether it is viewed from the weekly or monthly large-level cycle or the hourly chart, Xianzi recommends placing long orders on dips! Even if the low and long positions are stopped, don’t go for a short callback easily! The space for retracement is limited. Like yesterday, we have been waiting for a long position near 3 (.USD). The market just won’t give you a chance. Today, the first support level below broke a new high in the early morning period and then retreated to a low of 3, above. The pressure will continue to rise after stepping back!
Suggestions for Hunan colored asphalt:
, Suggestion - more, stop loss point, target
Ninggui asphalt operation suggestions:
, Suggestion 3 - more, stop loss point, target
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