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Market News April 25 US crude oil trading strategy: Both supply and demand are bearish, global stock markets weaken, and the decline in oil prices may intensify

April 25 US crude oil trading strategy: Both supply and demand are bearish, global stock markets weaken, and the decline in oil prices may intensify

U.S. energy companies added oil rigs for a fifth straight week, fueled by high prices and the government. Russia's oil exports to EU countries have continued to rebound as the EU plans to further strengthen its energy ban on Russia. At the same time, global stock markets generally fell sharply, further suppressing the demand outlook, with both fundamental supply and demand ends and technical short-term biased towards bears.

2022-04-25
7915
1 Monday (April 25) During the Asia-Europe session, U.S. crude oil fell in shock and fell below the 100 integer mark, once hitting a one-and-a-half-week low of $97.91 per barrel. There have been concerns that prolonged coronavirus lockdowns in Asia and possible U.S. interest rate hikes will dent global growth and fuel demand. And, U.S. energy companies increased their rig count for a fifth straight week, fueled by high prices and the government. Russia's oil exports to EU countries have continued to rebound as the EU plans to further strengthen its energy ban on Russia. At the same time, the U.S. dollar continued to strengthen, and global stock markets generally fell sharply, further suppressing the demand outlook.

During the day, we will focus on the performance of global stock markets, the trend of the U.S. dollar, news related to the situation in Russia and Ukraine, and news related to the new crown epidemic.

Daily level: shock; KDJ is running, MACD is also initially dead, oil prices have fallen below all short-term moving averages and the 100 integer mark, and the short-term is biased to bears, which may further fall to the next Bollinger Bands near 93.71.

The low point of 99.88 on April 20 has been transformed into the initial resistance. The 55-day moving average resistance is near 101.36, and the middle-rail resistance of the Bollinger Bands is near 103.78. This position needs to be recovered to reverse the short-term bearish signal.



4-hour level: Shock and fall; Bollinger bands are sloping downward, MACD and KDJ are running well, and oil prices have fallen below the 61.8% retracement level of 99.38, the key position of the 92.94-109.81 rally. It may fall back to around 92.94 again.



Resistance: 99.88; 101.36; 103.78; 105.42
Support: 96.91; 98.88; 93.71; 90.06;

Short-term operation suggestions: cautiously short on rallies.
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