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As far as the market last week is concerned, the asphalt on the weekly chart has closed positive again and the market has risen again. The biggest event on Monday was the strike by oil workers in Nigeria and the political unrest in Venezuela, which directly led to the continued upward trend in intraday prices. On Tuesday, the bulls continued Monday's momentum and continued to break upward. Although there was a slight decline during the day, there was still room for many points of growth. On Wednesday, the market was relatively quiet during the white trading time in the evening. After the bad data came out, the market fell slightly and then reached a new high. At 2 o'clock in the morning, the market was suppressed by the increased probability of interest rate hikes as a result of the Federal Reserve interest rate meeting. The market finally closed down at closing time. By Thursday, before the U.S. market opened, suppressed by the strength of the U.S. dollar, the bullish momentum began to weaken and the market continued to decline.
In the early morning, news of the sudden shutdown of oil fields stimulated the market to make up for the day's decline and close above the line. I believe that the market in the evening impressed many friends. Although supply disruptions continued on Friday, the strength of the U.S. dollar still put pressure on the market, which failed to break through further and finally began to fall back down, ending this week's market. In general, this week's rise was mainly affected by supply shortages in many places, but the strength of the US dollar and the balancing of supply and demand became its main upward resistance.
Oil prices came under pressure as the dollar rose due to the unexpected impact of the Federal Reserve's monthly meeting. The U.S. rig count did not continue to fall last week and global production disruptions are expected to resume. The above multiple factors combined to affect oil prices and ultimately did not break through the US dollar mark.
Recently, oil prices have approached the US dollar, the legendary return of US shale oil. However, Tom Ward, co-founder of Chesapeake Energy, said that since the capital market is basically closed to crude oil drilling, most oil wells will not be able to increase production until oil prices return to the dollar.
Looking at the daily line, the opening line of the Bollinger Bands is above the middle track of the Bollinger Bands and begins to turn downwards. Other short-period moving averages are moving upwards. Attached picture: D red kinetic energy and volume double lines run parallel to the top of the axis. The stochastic indicator D is located at the golden cross. Looking at the hourly line above, the Bollinger Bands opening is downward and the line is below the middle rail of the Bollinger Bands. In the attached picture, the D double line is above the axis and the green kinetic energy column has just begun to increase in volume. The stochastic indicator D double line is a dead cross downward. During the day, it is recommended to focus on high altitude.
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