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News
After the oil price experienced the Labor Day holiday in the United States, the market was not affected at all. On the contrary, due to rumors in the market, the market underwent major changes on Monday. Currently, the market is Oil-producing countries have prepared for a production freeze meeting, and Iran said it wanted to intervene. However, the previous breakdown of the production freeze agreement was due to Iran's unwillingness to intervene. This request to join does not represent the possibility of disrupting the situation. On Tuesday, when the Iranian Oil Minister met with the Secretary-General of OPEC to discuss the production freeze, he said that he would support the decision of oil-producing countries to restore the oil market and hoped that oil prices would stabilize at US$/barrel. However, although Iran supports the production freeze, it still hopes to return to pre-sanctions oil production levels. As for other oil-producing countries, Nigeria may also demand the restoration of crude oil production lost due to military strikes. Libya also hopes to increase production, which has plummeted since the conflict broke out. The Iraqi prime minister has expressed support for a production freeze, but the new oil minister has previously called on oil companies to increase production to increase fiscal revenue. After Kuwait experienced a major strike by domestic oil workers some time ago, its oil production capacity has been greatly reduced, and the country is more likely to choose to continue to increase production. Yueyang believes that regarding the production freeze, we should focus on the actions of Russia and Saudi Arabia. If Russia and Saudi Arabia can reach an agreement, other countries may follow suit. However, the joint statement between Russia and Saudi Arabia is a trick used by the two countries to manipulate and increase oil prices. It can support oil prices for several days or even A few weeks would be nice. Investors should still be wary.
Oil market analysis
Looking at yesterday's market, the Asian oil price went as high as .1 line. After the European market opened, the market began to decline. In the US market, it was also in a downward trend, with the lowest as low as .1 line. However, there was a sudden reversal in the evening, and finally closed a small negative line at this position. From a technical perspective, the minute trumpet-shaped trend has led to a narrowing of the mouth, so the oil price has been oscillating around the US dollar for a long time. Based on the analysis of the above chart, the price is running within the golden section range, and combined with the moving average indicators, the power moving average has Blame the downward trend, the dead cross between the daily moving average and the high level of the daily moving average has formed forced pressure. From the perspective of the Bollinger system, the double needle of crude oil reached the top at midnight yesterday, and the high level fell back. The daily Bollinger middle track formed a strong suppression, and the indicator fluctuated and ran at the Bollinger middle track. Below, the attached chart is running with a dead cross, the green kinetic energy column is increasing in volume, and various indicators indicate that the big trend is still pointing to the short side. However, the current trend is not enough for us to place short orders. Because this position detects the moving average support, a stable transaction can rebound to a high-altitude layout, and the support below is on the golden section line in the above picture, so based on the current trend, we only Only if you can wait patiently for a further breakthrough in the market will you have a chance. Pay attention to the pressure level of the daily mid-track. As long as it does not break above, the oil price will naturally fluctuate downward during the day. Therefore, for intraday operations, Queyang recommends mainly shorting at high levels.
Oil operation suggestions
It is recommended to enter the market with short orders near the US dollar, and the stop loss target is near the US dollar
It is recommended to enter the market with long orders near the US dollar, and the stop loss target is near the US dollar
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