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International oil prices Oil prices plunged more than % on Monday, falling to near a two-and-a-half-month low, as worries about global oversupply grew and refined oil inventories continued to put pressure on the oil market. The price of U.S. crude oil futures hit an intraday low of .US$/barrel, and the price of Brent crude oil futures hit an intraday low of . Regional inventories increased by 10,000 barrels. In addition, investor confidence has been hit hard by the continued rise in gasoline inventories, especially after the United States enters the summer travel peak.
With the number of U.S. crude oil drilling rigs bottoming out and the market approaching the peak of the summer driving season, OPEC supply is also showing signs of improvement. In addition to concerns over the resumption of Libyan crude exports, Iraq's monthly oil exports are expected to increase, according to shipping data and industry sources. It is understood that this will be the return to growth in the country's oil supply after two months of decline. Data show that northern Iraq's crude oil exports have increased to 10,000 barrels/day since January.
Oil Analysis and Suggestions
, Market Interpretation
On the 1st (Month), crude oil prices fluctuated downwards and approached the previous low record. However, the oil market has intensified concerns about oversupply due to increased drilling. In the long run, oil prices The pressure is likely to fall sharply, and the dollar bulls have continued to rise. At present, it seems that the pressure above crude oil is too great, and the market outlook may still fall, and the target may still impact the dollar.
, Technical Analysis
Comprehensive analysis
The price has dropped from the US dollar to . The general trend of short selling is here. If there are still friends who are suspicious and feel that it is time to buy the bottom, then that is your own problem. Moreover, Li Hangzhong also mentioned in the article that oil prices will reach the US dollar. After seeing the unilateral decline for a week, I think you should believe that this is not groundless. On the whole, crude oil prices have sufficient momentum to fall, and there are many negative factors in the news. Oil prices lack strong support. It is expected that crude oil prices will fluctuate downward in the future. If you are aggressive, you can also take a long position and stop the loss. Look at the top and then go up when the time comes, and then backhand short. Target USD.
, Unwinding of Long Orders
After several failed attempts to push prices higher last week, crude oil closed sharply on Friday. With the supply and demand side still in excess, coupled with the recent strength of the US dollar, can we still expect a technical rebound in crude oil? Under this trend, a customer even told me that he was determined to see a rebound! There is no support below. Where is the rebound point? Do we have to wait for the US dollar? Will the dollar rebound for you? Do you have enough funds to resist risks? Is this kind of anti-monotherapy really cost-effective? Is it proportional to the income? Loss is not without reason. This kind of people are typical examples. They do not listen no matter how much they say, and they will only lose money in the end.
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