Haixia Taiyun Commodity Trading Center

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. Crude oil inventories fell
According to a report released by the U.S. Energy Information Administration on Wednesday, U.S. crude oil inventories fell by 0.0 million barrels in the week ended March 30, ending three consecutive weeks of growth and recording the largest decline since the week March 20. U.S. gasoline inventories fell by 0.0 million barrels last week, the largest drop in four weeks, while Cushing inventories fell by 0.0 million barrels, the largest drop in two weeks. Although U.S. domestic crude oil production increased by 10,000 barrels to 10,000 barrels per day last week, it has remained below the 10,000 barrels per day mark for consecutive weeks.
The prospect of a possible production freeze by oil-producing countries
Special Energy Minister Falih recently stated that he will meet with OPEC and non-oil-producing countries next month to discuss oil market issues, and plans to freeze production again Come to the surface. The International Energy Forum will be held in Algeria on March 1, and Qatar's Oil Minister has previously stated that member states will hold discussions on the sidelines of the forum meeting. At the same time, Russian Energy Minister Novak said in an interview on Monday that Russia is open to cooperation to stabilize oil prices if necessary, which greatly encouraged market confidence.
Oil market outlook
From a technical point of view, the original price has entered a bull market, but we must be vigilant that bulls may be close to the peak. Analysts say that the US dollar may be the ultimate mid-term target of oil price bulls, and crude oil prices are about to hit At the top of the downward channel, the author recommends that investors should be cautious.
Oil technical aspects and operational suggestions
Judging from the four-hour trend chart of China's crude oil, the price continues to run between the upper Bollinger Band and the daily moving average. The daily moving average below has strong support, and the Bollinger Band channel opening closed. Narrow, but the trend is still upward, and the short-term moving average is upward. The indicators in the attached picture are stuck at high levels and trending flat, and the red kinetic energy column's three lines of continuous heavy volume indicators have turned downward. On the whole, the short-term upward momentum is insufficient, and a slight short-term correction is expected. It is recommended to call back to low levels to intervene in long orders during the Asian trading period.
Oil operation suggestions
Go long near the US dollar, with the target looking towards the US dollar, and stop loss below the US dollar
Go short near the US dollar, with the target looking towards the US dollar, with stop loss below the US dollar.