Year1
- 50：
- 50
- 40：
- 40
- 30：
- 30
Market Information
The total number of oil rigs drilled in the United States for the week to March 20, announced on Saturday, March 2, Beijing time, was 0.000, and the previous value was 0.000,000,000,000,000. After the data was released, oil prices fell in the short term. After the increase in U.S. crude oil production, the number of oil drilling rigs in the U.S. increased significantly in the week to July, which was the largest weekly increase since January 2019. It returned to the high point in January and was also the weekly increase in the past week
The benefits of OPEC production cuts The news keeps coming, but the U.S. dollar hitting its mid-year high has limited oil price gains. Oil prices this week are very sensitive to countries' attitudes towards production cuts during the Doha Gas Exporting Countries Forum, and this situation may continue until the OPEC meeting at the end of the month. In addition to daily attention to oil drilling and other data next week, crude oil investors also need to pay close attention to the U.S. Thanksgiving Day next week on April 1, when crude oil trading hours will be adjusted.
Crude oil technical analysis
Crude oil recorded two yin and three yang this week. Due to OPEC's intervention, Iran softened its attitude and raised production cut expectations. Most member states are willing to make concessions for Iran's output, and are expected to finally implement this year's plan. The first production limit agreement, bulls took the lead to seize the upper hand. After falling for three weeks in a row, crude oil finally gained hope for the first time with a positive line, and bulls are currently blocked below the daily moving average. On the daily chart, the line is about to break the middle track of the Bollinger Bands, and the daily moving average crosses the golden cross. The red kinetic energy of the indicators in the attached picture begins to emerge, and the stochastic indicator diverges upward.
On the four-hour chart, the Bollinger Band shows signs of shrinking, with the line stabilizing above the 10-day moving average. The indicators in the attached chart are weak, and the indicators are running flat. Although bulls have briefly stabilized, the top is still blocked by the US dollar, and the bottom of the daily moving average forms strong support. Wenxi believes that although there are frequent reports of good news about the production freeze agreement, the good economic data in the United States has put pressure on the strength of the US dollar and oil prices, and crude oil is in an awkward situation of neither going up nor coming down. Teacher Ye believes that if the dove is released next week, there will be no surprises in the production freeze, and the overall trend is still bullish. The operation public account Ye Wenxi suggested operating in the US dollar range before the official meeting of the production freeze.
Operation suggestions for next Monday
If the US dollar pulls back, go long on the first line, stop loss of US dollars, and the target is set
On the second level, go short on the US dollar, stop loss of US dollars, and the target is set
WhatsApp
