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Review of this week’s market:
Crude oil has twists and turns, the news is constantly stimulating, crude oil Trend chart, extremely news trend chart
The International Energy Forum will be held in Algeria on Monday (.), as C member countries will hold informal talks during the meeting. Market investors are generally not optimistic that the production freeze will be reached. However, as market sentiment increased in anticipation of an agreement, oil prices rose and finally closed at .
The International Energy Forum officially opened on Tuesday (.), with C member countries discussing oil market issues, including the high-profile production freeze agreement. However, Iran's attitude is confusing, and the news revealed on the sidelines of the meeting cooled down expectations of a production freeze. The daily line recorded a negative line and closed at .USD.
On Wednesday (.) due to the bullish influence in the morning, the price rose in early trading, and the European market began to fall. Bullish in the evening, but rose slightly before plunging to .USD. Stimulated by the positive news that C member countries reached an agreement and were willing to jointly maintain oil prices, oil prices soared, reaching a maximum of .USD and closing at .USD.
On Thursday (.), the market searched for the impact of the agreement. According to sources, C reached an agreement to limit oil output and was implemented in March. Oil prices rose in response, with the daily line closing positive and briefly rising above the US dollar. Finally, Recorded in USD.
Oil prices closed at a new high on Friday (.), breaking through the US dollar mark. The evening session was less affected by US drilling data.
Prediction for next week:
Natural gas: The main theme of short selling, although it is relatively repetitive in the short term, is also treated as a rebound confirmation of resistance. At present, the price is under pressure along the downward trend. The negative pattern of the weekly chart has been established, and the short-term moving average has also turned. However, the decline has lasted for nearly a week, and the space has been gradually compressed. The opportunities this week are almost gone. The idea of rebounding and shorting is still next week. If it is radical, it can be seen as a rebound from a new low. I have already made profits near the layout I made before. Now the market is gradually testing downwards. If there is a breakthrough, then the price is expected to return below.
Silver: It was more eye-catching in the evening. After the U.S. index fell under pressure, gold and silver prices rose sharply. The short-term rebound quickly recovered the two-day decline and brought the price back to the top, and then went on a roller coaster to make up for the gains, which was eye-popping. At present, the price is oscillating in the neutral position, and we need to continue to pay attention to this line later. The overall trend is still weak. At the same time, the triangle structure of the daily chart has narrowed, approaching next week's non-farm payrolls, the market is about to break out of the one-sided position, everyone, be prepared!
Technical analysis of crude oil asphalt market:
Judging from the four-hour trend chart, oil prices rose sharply overnight, and the line strongly broke through all short-term pressure levels. The current upper resistance is near. From the indicator point of view, the Bollinger Bands channel is opening, the C indicator fast and slow line golden cross diverges upward, and the red kinetic energy column has a large volume indicator forming a golden cross running upward. Taken together, combined with fundamentals and technical aspects, oil prices may continue to rise in the short term, occasionally accompanied by technical corrections. In terms of operation, it is recommended to focus on low and long.
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