27/3.USOIL first support observation 79

Looking back at yesterday's trend, the USOIL market remained in the range of 81.7-82.4 throughout the day. This is a narrow range for oil prices. The competition between the long and short parties in the market is fierce. until closing. The bears broke the deadlock.

News side:
The API announced a significant increase last night, with U.S. API crude oil inventories reaching a high of 9.337 million barrels in the week to March 22. This news may seem insensitive when viewed alone, but combined with OPEC+’s statement that it will not fulfill the production reduction agreement. What do these two news indicate? If the market supply exceeds demand, oil prices will naturally fall.

Technical aspect: The price around 82 is still relatively high, and at the same time it is in a strong pressure position from above. The next small intraday support is at 79.4-79. Combined with Pitchfork, oil currently faces a short-term situation that continues to decline. Based on the news released, the market is about to experience a sharp decline on 27/3.

Today’s personal operations are mainly selling:

USOIL: 81.4-81.7 sell

Tp:80-79.6

Sl:82.6

Like and follow after reading.

Trade active:

It’s only a matter of time before oil prices fall

Trade active:

okay

Trade active

Trade active

Trade active:

Robust operation

Trade active:

still profitable