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News in Song Dynasty
The rebound in international oil prices during the Asia-Europe time period in Song Dynasty was blocked and currently remains near the low of nearly three months reached earlier this week. US crude oil monthly futures are currently trading Investing in .USD/barrel, Brent crude oil monthly futures are currently trading at .USD/barrel. Abundant supply and slowing economic growth are still suppressing oil prices, while a stronger US dollar has also suppressed oil prices. The market will pay attention to the evening Crude oil inventory data.
Crude oil inventories in Songtiran continued to maintain their downward trend, decreasing for the first week, but the decline was less than expected. In addition, gasoline inventories only fell modestly, and the Cushing area increased by nearly 10,000 barrels. After the data was released, the U.S. Oil, cloth and oil both continued their previous declines.
Song Dynasty said that the supply side is negative for oil prices, and the demand side is also putting pressure on oil prices. As the U.S. driving season comes to an end and refineries enter equipment maintenance season, crude oil demand will decline. More importantly, due to high gasoline inventories and sharp declines in crack spreads, the growth rate of U.S. refinery demand this summer was significantly lower than last year's levels. Refineries will also enter maintenance season earlier than in previous years. Weak demand is expected to weigh heavily on future oil prices.
Technical Analysis of Songti Crude Oil
On the Songti line chart, a small negative column with an upper and lower shadow line was collected yesterday, recording four consecutive negative days, and closing below the daily moving average. The current oil price is running below the lower track of the Bollinger Bands. , the Bollinger Bands open, the upper part is strongly suppressed by the Bollinger Band, and the lower part is strongly suppressed by the Bollinger Middle Track and the US dollar line. The daily moving average crosses the daily moving average, and the daily moving average crosses the daily moving average. In the short term, it is suppressed by the daily moving average. The US dollar line, and the lower part pays attention to the daily moving average and first-line support. , the green kinetic energy column of the indicator in the attached picture continues to strengthen, the stochastic indicator crosses downwards, and the day is still dominated by rebound short selling. From the daily line, it can be clearly seen that each time the lows continue to fluctuate and move downward, there is a continued downward trend, but rebound corrections are prevented.
Song Ti crude oil operation suggestions
Song Ti. Go short near. Stop loss. USD, target is near.
Go long near Song Dynasty, stop loss. USD, target. Nearby
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