[Market Evening] Oil Price Pullback Awaits EIA Data, Bulls Still Have A Chance
The war between Russia and Ukraine is still ongoing, supply concerns have not been completely eliminated, and the global stock market has generally risen. If the pressure of the pullback can be resisted, there is still a chance for oil prices to fluctuate higher in the market outlook.

As of 17:00 (GMT+8), spot gold fell 0.255% to $1707.13/oz, and spot silver rose 0.422% to $18.806/oz.
Comment: The international gold price edged lower. Out of concern over aggressive monetary policy and rising bond yields, the bearishness brought more than the bullishness caused by the fall of the US dollar. The market seems to be accumulating strength for a new decline.
Suggestion: short spot gold at 1707.10, and the target point is 1700.00.
As of 17:00 (GMT+8), the US dollar index fell 0.019% to 106.53, EUR/USD rose 0.071% to 1.02338; GBP/USD rose 0.051% to 1.20020; AUD/USD rose 0.116% to 0.69092; USD /JPY was up 0.069% at 138.259.
Comment: The euro rose on reports that European Central Bank policymakers may consider raising rates by 50 basis points at their policy meeting on Thursday, up from the 25 basis points they hinted at in June. Euro investors were relieved by the prospect of a faster-than-expected tightening.
Suggestion: EUR/USD 1.02340 position to go long, the target point 1.02800.
As of 17:00 (GMT+8), WTI fell 0.805% to $99.209/barrel; Brent fell 0.718% to $102.768/barrel.
Comment: The oil market was under pressure as global central banks struggled to curb inflation, and the market expected a rise in US crude inventories as demand for oil products fell. In addition, it is reported that Russia will resume the Nord Stream No. 1 gas transmission as planned on July 21, and the natural gas pared its gains, which also dragged down oil prices.
Suggestion: long US crude oil at 99.200, and the target point is 105.000.
1. The co-founder of PoolTogether initiates a discussion proposal on the Uniswap fee switch;
2. "Financial Times": Japan's encryption industry self-regulation "experiment" did not achieve the expected results;
3. US Senator Cynthia Lummis: The Senate is unlikely to vote on a bipartisan encryption bill this year;
4. The US Department of Justice has seized approximately $500,000 in ransom and cryptocurrency from North Korean hackers;
5. Colombia promotes the creation of a regulatory framework for the local crypto industry;
6. The court approves Voyager to honor Brex corporate card payments, with the next hearing to be held on August 4;
7. Three Arrows Capital borrowed and repaid over $2 billion from Blockchain.com before going bankrupt;
8. Court documents reveal that Zhu Su holds a $1.4 billion stake in Three Arrows Capital Offshore Fund;
9. Head of Coinbase Asset Sales: The platform's bitcoin stock was overtaken by Binance as false news.
The Taiwan Weighted Index fell 0.718% to 14,699.5 points;
The Nikkei 225 rose 0.858% to 27619.5 points;
Hong Kong's Hang Seng Index fell 0.210% to 20,889.0 points;
Australia's S&P/ASX 200 rose 0.364% to 6,756.55.
20:30(GM+8):
Canada June CPI annual rate (%)
Canada's June central bank core CPI monthly rate (%)
Canada's June unseasonably adjusted CPI monthly rate (%)
Canada's June Core CPI-Ordinary Annual Rate (%)
The annual rate of the Bank of Canada's core CPI in June - not seasonally adjusted (%)
22:00(GM+8):
Eurozone Consumer Confidence Index Preliminary for July
US Existing Home Sales Annualized Total in June (10,000)
22:30(GM+8):
Changes in US EIA crude oil inventories for the week ended July 15 (10,000 barrels)
Changes in US EIA refined oil inventories for the week ended July 15 (10,000 barrels)
Changes in US EIA gasoline inventories for the week ended July 15 (10,000 barrels)
US weekly EIA crude oil imports for the week ended July 15 (10,000 barrels)
Bonus rebate to help investors grow in the trading world!