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News
The electronic trading of Brent crude oil monthly futures fell by .USD on Friday (Month), or .%, and the settlement price was reported at .USD per barrel. The electronic trading of US crude oil monthly futures fell by .USD, Increased .%, quoted in US dollars per barrel.
Oil prices were little changed on Friday but fell this week, with U.S. crude falling for the first time in five as a rise in the U.S. rig count and record inventories outweighed production cuts by major producers to reduce a global glut. Impact.
U.S. energy companies added rigs to their rig count for a fifth straight week, extending a nine-month recovery in drilling activity as oil prices remained essentially flat per barrel since OPEC agreed to reduce supplies late last year. dollar, miners took advantage of the opportunity to increase drilling activity.
Position-balancing ahead of the monthly U.S. crude contract expiring next Tuesday also weighed on prices, traders said. U.S. markets will be closed next Monday for the Presidents Day holiday.
The two major benchmark contracts ended lower this week, with U.S. crude oil falling % and Brent crude oil falling %. U.S. gasoline futures came under the most pressure, closing nearly % lower as gasoline crack spreads plunged more than % in early trading to a one-year low.
Rising U.S. production helped crude oil and gasoline inventories reach record highs last week, while gasoline demand growth has faltered.
Technical analysis of crude oil:
OPEC and the shale oil market are competing for influence. Crude oil has recently fallen into a high and wide consolidation state. Looking at the daily chart, crude oil has barely increased in the past three days, and the Bollinger Bands trend Due to the contraction, the rise and fall of oil prices seems to have to choose a direction. The midline can be overvalued and undervalued within the large triangle. As oil prices begin to choose a direction, the focus is on how OPEC stimulates the market. But for now, Saudi Arabia monopolizes the majority of production cuts, and problems with internal production reduction quotas have arisen again. The market may once again question OPEC. Judging from the four-hour chart, there is currently room for oil prices to fall. The moving average is showing a bearish trend, and the system is going downward. In the short term, we can also see the first-line breaking situation. If there is an effective breakthrough, the price will still fall. At present, we can see In the attached picture, the fast and slow lines are moving downwards, and the green kinetic energy column has become obvious. There is still some room for shorts. Looking at the trend of oil prices, I suggest that the trend of oil prices should mainly focus on high altitudes, supplemented by low and long positions.
Crude oil and asphalt operation suggestions:
Suggestions for short orders:.. Place short orders near the U.S. dollar, target the first line of the U.S. dollar, stop loss. U.S. dollar
Suggestions for long orders:. .Multiple orders are placed near the U.S. dollar, the target is near the U.S. dollar, stop loss. U.S. dollar
Silver technical analysis:
From a technical point of view, the overall operation last week was near the daily moving average, and the upper part was subject to cloth Lin's upper track is suppressed, and the bulls' momentum is becoming increasingly insufficient. The daily line has the momentum to form a dead cross. The current hourly chart and the four-hour chart are both running dead cross. Therefore, we are optimistic that silver and gold will have a big correction next week. In terms of operations, it is recommended to focus on high altitudes.
Suggestions for silver operations next Monday: Enter a short order when the price pulls back to - near, with the target looking towards the first line.
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