Rising oil prices are under pressure, so be careful of traps

Although the interruption of some exports from the Kurdistan region of Iraq has raised concerns about tighter supply, the United States is expected to start strategic reserve repurchases during the year, which will also benefit oil prices to promote a rebound in oil prices.However, because of the geopolitical situation between Russia and Ukraine, it is more the West that sanctions Russia, so it will not allow oil prices to rise sharply and have sufficient income, thus limiting the room for oil prices to rebound to a certain extent.

From the perspective of crude oil trends, since the surge on March 27, there has not been a decent pullback and repair, so crude oil technically needs at least a second pullback to prove the effectiveness of the oil price increase.

Short-term trading reference: sell crude oil near 74, stop loss level 74.4, take profit level 73.3

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Trade active:

At present, crude oil has fallen to the 72.8 line, and the crude oil trading orders sold around 74 have already made substantial profits

Comment:

Is your crude oil trading profitable?

Comment:

Oil prices are currently undergoing a narrow range of oscillations. After we sell crude oil near 74 and take profits, I don’t recommend doing any more operations for the time being. The most important thing is to hold the profits in our own hands