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Today’s international news
On Wednesday (Month), U.S. crude oil monthly futures closed fell by .USD, or .[%], quoted at .USD/barrel. Brent crude oil monthly futures closed down .USD, or .[%], at .USD/barrel. U.S. crude oil futures prices hit an intraday low of .$/barrel, and Brent crude oil futures prices hit an intraday low of .$/barrel. Crude oil inventories recorded their largest increase in months last week while refined oil inventories recorded a sharp decrease due to the hurricane.
The high-profile talks between OPEC and non-OPEC oil-producing countries also ended on the evening of Wednesday (July 2). After the meeting, Brent oil fell below the U.S. dollar/barrel, and U.S. oil fell close to [%].
Although Venezuelan Oil Minister Pino, Qatari Oil Minister and Russian Energy Minister Novak all expressed support for the agreement, the meeting did not discuss the crude oil output target, and relevant details still need to be discussed. It is still unknown whether OPEC can properly resolve conflicts and differences among oil-producing countries. Secretary-General Barkindo said after the meeting that it is still uncertain whether OPEC will take the lead in cutting production before non-OPEC joins.
In addition, the monthly crude oil market report released by OPEC on Wednesday showed that OPEC oil production rose from 10,000 barrels per day to 10,000 barrels per day and that the global crude oil supply surplus is expected to increase from 10,000 barrels to 10,000 barrels per day. The glut situation still worries the market. The expectation that the Federal Reserve will raise interest rates by the end of the year has supported the U.S. dollar index, which has been hovering at year-highs in recent days, and has also put pressure on oil prices.
Technical Analysis of Spot Crude Oil
From the four-hour chart, U.S. crude oil is running on the upper track of the Bollinger Bands, supported by the lower track. The dead cross above the zero axis of the C fast and slow line runs downward, and the moving average system is arranged in a long position. , the three lines converge and there is a downward trend. Taken together, there is demand for oil prices to fall or flatten in the short term. In the morning, they will fluctuate lower or flatten to the lower trend line and the middle track range of the Bollinger Bands. In terms of operation, it is recommended to mainly go short on rebounds.
Suggestions for spot crude oil operation
, go short near .., stop loss .. points, target .. nearby
Strictly place a stop profit and stop loss when placing orders, and bear the profits and losses at your own risk! If you want to reprint, please indicate the source!
Natural Gas Technical Analysis
From the daily chart, the moving average system is upward, the Bollinger Bands are expanding upward, and the price is running near the upper limit of the Bollinger Bands, attached picture C The fast and slow lines diverge upward, the red energy column shrinks, the indicator runs in the overbought zone, and there are signs of a dead cross. From the hourly chart, the moving average system turns downward, the Bollinger Bands narrow, and the price runs below the middle track of the Bollinger Bands. In Figure C, the fast and slow lines diverge downward, the green energy column increases, and the indicators diverge downward. Overall, here are a few points to focus on when making orders today: First, as can be seen from the daily chart, the price has stabilized below the daily moving average system. , the general trend is short, then we still focus on short selling at high positions during the trading process. Tonight: for the release of natural gas inventory data, and for the release of crude oil inventory data, both are coming, and tonight is destined to be an extraordinary night. The data market fluctuates greatly, and we will make real-time arrangements at that time. This is our focus tonight.
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