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Market News June 14 US crude oil trading strategy: Libya "cut supply", bulls are encouraged, pay attention to OPEC monthly report
June 14 US crude oil trading strategy: Libya "cut supply", bulls are encouraged, pay attention to OPEC monthly report
Although the dollar rose sharply on Monday, the epidemic rebounded in Asia and U.S. stocks tumbled, dragging down oil prices, the political crisis in Libya hit production and ports, with output falling by about 1.1 million barrels per day, further exacerbating supply tensions. The market also expects a decrease of 1.2 million barrels of crude oil inventories in the United States, and the rise in Russia and Ukraine continues.
2022-06-14
9100
In the Asia-Europe session on Tuesday (June 14), U.S. crude oil fluctuated slightly, and is currently trading around $121.70 per barrel. Although the U.S. dollar rose sharply on Monday, the Asian epidemic rebounded, and U.S. stocks fell sharply, dragging down oil prices, but Libya’s political situation The crisis has hit production and ports, with output falling by around 1.1 million bpd, adding to the supply tensions. The market also expects a decrease of 1.2 million barrels of crude oil inventories in the United States, and the rise in Russia and Ukraine continues.
This trading day focuses on the monthly report of the OPEC crude oil market and the API crude oil inventory series data. In addition, it is necessary to pay attention to the performance of the European and American stock markets.
Daily level: fluctuating and rising; the moving average is close to the long arrangement, the MACD continues to diverge upwards, but there are signs of a dead cross at the high level, the KDJ is glued at a high level, and the short-term trend is more variable. The possibility of a shock to build the top is also relatively large, and it is necessary to beware of the possibility of a surge and a fall.
The initial resistance above is near the high of 122.74 last Friday, the upper rail resistance of the ascending channel is currently around 124.55, and the strong resistance is near the high of 126.84 on March 9. At present, it is more difficult to break this resistance in the short-term.
The initial support below is near the 10-day moving average at 119.87, and the low point on June 7 is near 117.18. If this support is lost, a short-term bearish signal will be added. The 21-day moving average support is currently near 116.05.
Resistance: 122.74; 124.55; 126.84; 130.50;
Support: 119.87; 117.18; 116.05; 112.85;
Short-term operation suggestions: conservatives wait and see; radicals are cautious to do more on dips, and short-term rallies are cautious.
This trading day focuses on the monthly report of the OPEC crude oil market and the API crude oil inventory series data. In addition, it is necessary to pay attention to the performance of the European and American stock markets.
Daily level: fluctuating and rising; the moving average is close to the long arrangement, the MACD continues to diverge upwards, but there are signs of a dead cross at the high level, the KDJ is glued at a high level, and the short-term trend is more variable. The possibility of a shock to build the top is also relatively large, and it is necessary to beware of the possibility of a surge and a fall.
The initial resistance above is near the high of 122.74 last Friday, the upper rail resistance of the ascending channel is currently around 124.55, and the strong resistance is near the high of 126.84 on March 9. At present, it is more difficult to break this resistance in the short-term.
The initial support below is near the 10-day moving average at 119.87, and the low point on June 7 is near 117.18. If this support is lost, a short-term bearish signal will be added. The 21-day moving average support is currently near 116.05.
Resistance: 122.74; 124.55; 126.84; 130.50;
Support: 119.87; 117.18; 116.05; 112.85;
Short-term operation suggestions: conservatives wait and see; radicals are cautious to do more on dips, and short-term rallies are cautious.
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