We recently noticed that some third-party companies and individuals impersonated the TOPONE Markets brand and illegally misappropriated our trademarks.

We Hereby Reiterate Our Statement:

  • TOPONE Markets does not provide discretionary account operation trading services, nor does it cooperate with other third-party vendors and/ or agents to provide such services.
  • TOPONE Markets staff will not promise to our customer the definite profit, please do not trust any kind of the profit promise or profit related picture, such as screenshot/ chat history, etc, all investment profit can be only viewed on our official website and application.
  • TOPONE Markets is a professional online trading platform with low spreads and zero handling fees. Be wary of any behavior that asks you for any fees directly and privately. TOPONE Markets does not charge a fee at any stage of its trading process or other fee.

If you have any questions or concerns, please feel free to reach us by clicking the "Online Customer Support" or send an email to our customer care team cs@top1markets.com. We will answer your questions and assist you promptly.

Understood
We use cookies to learn more about how you use our website and what we can improve. Continue to use our website by clicking "Accept". Details
Market News July 12 U.S. crude oil trading strategy: bulls are still strong, cautiously go long

July 12 U.S. crude oil trading strategy: bulls are still strong, cautiously go long

US crude oil fell slightly on July 12, short-term bulls are still relatively strong, but we need to beware of unexpected news, and it is recommended that cautiously go long.

Eden
2021-07-12
12057

On Monday (July 12), US crude oil fell slightly, and short-term oil price fundamentals are still tight. However, we need to be alert to news of OPEC+ and Iranian nuclear negotiations. It is recommended that conservatives wait and see, and radicals do more cautiously.


Daily level: Oil prices have risen for the previous two consecutive days and stood above the 10-day moving average. The short-term optimism about oil prices is heating up again. As long as it does not fall below the 10-day moving average of 74.16, oil prices are expected to continue their upward trend.

With the advent of the peak driving season in the United States, fuel demand in the United States has surged, and EIA crude oil inventories have fallen for 7 consecutive weeks, which has provided support to oil prices. However, the Iranian nuclear talks, OPEC+ talks, and the warming of the epidemic are still major uncertainties facing oil prices.

It is recommended that radicals remain cautiously optimistic about oil prices, and conservatives can wait and see for the time being, but investors need to be alert to the impact of unexpected news on oil price trends.

The top focus is on the pressure of each integer mark, the bottom is initially supported at the 20-day moving average of 73.39, and further attention is paid to the low of 70.78 on July 8 and the high of 67.98 on March 8.

(U.S. crude oil daily chart)

Resistance levels: 75.00; 76.00; 76.98
Support levels: 73.39; 70.78; 67.98

Short-term operation advice: activists do more cautiously, conservatives wait and see

At 15:13 GMT+8, U.S. crude oil was quoted at $74.30 per barrel.

Previous
Next

Bonus rebate to help investors grow in the trading world!

Need Assistance?

7×24 H

Download the APP for Free