Crude oil fluctuates frequently, with intraday range operations
Looking at crude oil on the daily chart, after reaching a new high of 83.60, oil prices have fallen back and adjusted. The strength of its pullback is limited. The moving average system still maintains a bullish arrangement, and the mid-term objective trend remains upward. It is expected that crude oil will enter a shock adjustment around the high of 83.60, accumulate upward momentum, and continue to move upward.
The short-term (1H) trend of crude oil failed to rise and fell again. The continuity of the short-term trend at the beginning of the week was not high, and the short-term objective trend entered a wide range of shocks, with the range ranging from 82.80 to 80.70. In early trading, the oil price fell within the range to the lower half of the range, and the short-term momentum was abundant. It is expected that crude oil will mainly maintain fluctuations within the range during the day, and trades will be entered based on the range operation idea.
oil:buy80.5-81
tp:82-81.5
sl:79.8
Comment:
WTI prices edged higher as a weaker dollar and renewed geopolitical tensions in the Middle East and Eastern Europe heightened concerns about supply disruptions. Recent Ukrainian attacks on Russian oil infrastructure have caused disruptions at Russian refineries, with at least seven refineries hit this month alone. This increases demand for available crude oil transportation.
Comment:
Whether it is the direct conflict between Russia and Ukraine or the Israeli attack that Gaza is experiencing, the world's resources have been put at the forefront. The increasing strategic demands of various countries will, to a certain extent, make crude oil resources more scarce and thus increase the crude oil market price.
Comment:
As long as usoil is not lower than 81, it will definitely rise.
Comment:
The price of WTI is now above its 5-day, 50-day, and 200-day moving averages. This is a positive outlook for the short term, medium term and long term.
Comment:
USoil can definitely reach 82. Russia requires Russian Petroleum to continue to increase crude oil production cuts, from the previous 9.5 million barrels to 9 million barrels. Coupled with the recent escalating geopolitical situation and turmoil and OPEC maintaining and increasing production cuts, these crude oil Will cause crude oil to continue to rise in the near future
Comment:
82 is coming soon, the strategic thinking analysis is accurate, why don’t you join me?
Comment:
usoil arrives at TP, my strategy preparation rate is very high