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News analysis
International crude oil prices rebounded from lows on Wednesday (May 1) and are currently trading around the US dollar, mainly benefiting from the ultra-high implementation rate of production cuts by OPEC oil-producing countries. The Secretary-General pointed out that the monthly production reduction implementation rate exceeded %. In order to alleviate the drag of oversupply on oil prices, all member countries aim to increase the implementation rate to a higher level. Boosted by this optimistic statement, oil prices are expected to close higher today, rising for the fifth consecutive trading day. Oil-producing countries are optimistic that in order to eliminate the oversupply situation in the oil market since the beginning of this year, their plan to limit oil production together with other oil-producing countries will be successful. For this reason, the Secretary-General's positive remarks on production reduction have boosted oil prices.
According to survey results released by foreign media on Tuesday (July 2), U.S. crude oil inventories are expected to increase for the seventh consecutive week last week, and gasoline and refined oil inventories are expected to both record decreases. Analysts expect U.S. crude oil inventories to increase by 10,000 barrels, gasoline inventories to decrease by 10,000 barrels, and refined oil inventories to also decrease by 10,000 barrels in the week ending March 1. In the evening, the market will usher in inventories and the Federal Reserve minutes. Although all Fed officials are saying "Eagle" and crude oil inventories have also increased for the seventh consecutive week, the market has gradually digested this risk sentiment and there is nothing to be afraid of in the evening.
Technical analysis of crude oil:
Crude oil surged higher and ended lower yesterday. In early trading in the Asian market, the first-line opening showed a strong and slow rise. It continued to consolidate until the European market began to rise, and continued until the US market refreshed its high point, once again To touch the previous high, the short-term is still suppressed, closing at ., the daily chart closes with a positive line. In the daily chart, Yang has a long upper shadow line, and the closing of the upper shadow line still leaves a lot of suspense. Yesterday's first high point also gave bulls confidence, but today's closing is the key. This form will close later. If Yin turns to adjust, closes Yang and breaks through yesterday's high, it is a relay breakthrough and rise. Yin and Yang lines are more critical. Short-term chart: There is a lot of room for a rise and a fall, so today we still have to pay attention to the retreat. The Asian market is still in shock, and if the European market does not break through the highs, then we must prevent further losses in the short term. In the short term, it may go back to the lower track of the previous range and then prepare for a breakthrough. After returning to the range and oscillating, it will have to wait to choose the direction again.
U.S. crude oil operation suggestions:
, It is recommended that the top line. - The US dollar first line be short in batches, the stop loss defaults, near the target
, The bottom line is recommended. - The US dollar first line layout is long order, stop Loss defaults, target. Nearby
Silver technical analysis:
From the four-hour chart, the daily moving average crosses the daily average, the daily moving average moves upward, the price runs above the Bollinger middle track, and the Bollinger mouth shows signs of contraction. , the fast and slow lines in the attached picture run near the midline, the green energy column emerges, and the three-line stochastic indicator turns upward. The support below is focused on the USD, and the resistance above is initially focused on the USD mark. On the whole, silver is in a consolidation trend, and it is recommended to sell high and buy low during the day. When doing unilateral operations today, we need to focus on this important integer mark. If silver can continue to stand firm at the top today, then we can continue to look to the .USD line, otherwise it will be under pressure to fall. Below, we need to pay attention to the support of . We can place long orders above the support level.
Silver operation suggestions
, It is recommended to go long, stop loss, and take profit.
, It is recommended to go short, stop loss, and take profit.