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& Fundamental analysis:
Last week, C reached an agreement to cut production, which ignited market bulls. Coupled with the unexpected decrease in crude oil inventories, oil prices soared by nearly % last week. However, the market has doubts about the effectiveness of this agreement, and the increase in oil prices may be limited.
On Monday (Monday), international crude oil prices fluctuated downwards, with gold prices trading below the US dollar. After fully digesting the impact of the agreement, investors have doubts about the actual effect of the production freeze agreement.
Jin Yi said that if the upper limit of 10,000 barrels per day reached in the production freeze agreement is not effectively adhered to, crude oil will fall further.
As both China and Germany are closed today, trading is expected to be subdued.
Technical analysis:
Judging from the original four-hour trend chart, the opening of the Bollinger Bands has obviously expanded, and the three rails have moved upward in unison. The price of the line fluctuated upward along the upper rail, but was affected by the upper rail and the previous high. Suppression, the upper dollar forms a resistance level. The golden cross of the C indicator moves upward, the red kinetic energy column is sufficient, and the R indicator gathers and slows down. Generally speaking, the news on Monday is light, and the oil price is expected to fluctuate in the market outlook. Jin Yi suggested shorting on rallies
Interpretation of the news
International crude oil closed up .USD on Friday (Monday) at .USD/barrel. It rose sharply by .% this week and rose by .% on the month.
U.S. oil services company Baker Hughes (Br) released data on Friday (July 2) showing that the number of active drilling rigs for crude oil in the U.S. increased sharply this week, and has never recorded a decrease in the past week. Crude oil prices have experienced the longest period since they began to plummet in 2018, hitting their highest level since May this week and recording the largest quarterly increase in two years.
Reuters survey data on Friday (July 2) showed that the average daily crude oil production of the Organization of the Crude Oil Exporting Countries (Crude Oil Exporting Countries) hit a record high in recent history, as increased production in Iraq and Libya overshadowed the impact of falling crude oil production in Saudi Arabia.
Market technical analysis:
Looking at crude oil overall, I personally expect that US crude oil will pull back during the day, but the general trend is biased towards the bulls, and the US dollar will operate in a range.
U.S. crude oil operation suggestions:
. If the US dollar is long, stop loss. US dollar, target. US dollar
Overall, Ellie believes that silver will be dominated by shocks, with ranges (London Silver recommends paying attention. .USD range).
Suggestions for operation of non-ferrous silver:
One line is short, stop loss is 1 pip, target
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