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Interpretation of the news
Oil prices rose .% on Tuesday (June 2), continuing the upward trend at the end of the year. After the first production reduction agreement reached by the Organization of the Petroleum Exporting Countries and Africa in this year is expected to take effect on Sunday, supply will Expectations of tightening supported oil prices. U.S. crude oil prices have surged 2.3% since mid-month, helped by expectations of reduced supply and generally solid U.S. economic data boosting stocks. Trading in the market was light today, with only 10,000 front-month U.S. crude oil contracts changing hands, less than half of normal trading volume. Oil prices are trading close to $1.00 a barrel, not far from the year's highs hit on May 1. U.S. crude oil ended the session higher at $., or .%, at $.00 a barrel. Brent crude oil closed higher by .USD, or .%, at .USD per barrel, with Brent crude oil futures hitting their highest level since March.
The last round of refined oil price adjustment window of the year will be ushered in on May 1st. Many institutions predict that the price of refined oil in this round is expected to increase by about 100 yuan per ton.
Technical Analysis of Crude Oil Market
Yesterday, the Asian and European market prices were relatively flat. They opened slightly higher in the morning and then fell back. The market fluctuations during the day were relatively small. During the U.S. trading session, the bulls began to exert their strength and rose sharply. At midnight, it broke through the US dollar mark to..., then pulled back and finally closed
It opened slightly higher today and then fell back. Judging from the four small pictures, the line deviates from the moving average system line and runs below the upper Bollinger track. The MD fast and slow lines of the Bollinger opening and enlarging picture cross the golden cross and move upward. The red energy column incremental stochastic indicator D gathers and runs in the overbought zone. We need to pay attention to the first-line support situation.
Looking at the daily line of U.S. crude oil, the price rebounded after hitting the daily M support yesterday. The trend throughout the day yesterday was volatile and upward. After today's price opened, there was a small pullback near the US dollar. On the daily line, the MD red energy column weakened, and the trend indicators moved around the + line. From the hourly line, M fell below M, and the MD red energy column weakened with speed. The line has the potential to form a dead cross, and the trend indicator suddenly + line goes downwards, and there is a downward demand on the hourly line.
U.S. crude oil operation strategy
, see. Multiple orders enter the market near. Look at the target point. If the position is broken, continue to hold.
, unexpectedly broke down, rebounded, entered the market with short orders nearby, and looked at the target point.
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