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Market News September 22 U.S. crude oil trading strategy: EIA is expected to help oil prices rise, and it is recommended to continue to do more at low levels

September 22 U.S. crude oil trading strategy: EIA is expected to help oil prices rise, and it is recommended to continue to do more at low levels

US crude oil rose by more than 1% on September 22. The EIA crude oil inventory data released in the evening is expected to continue to benefit oil prices. It is recommended that investors continue to do more at low levels.

LEO
2021-09-22
7835

On Wednesday (September 22), US crude oil rose by more than 1%. The EIA crude oil inventory data released in the evening is expected to continue to benefit oil prices. It is recommended that investors continue to do more at low levels.


Daily level: Crude oil prices rose by more than 1% during the day. API data released earlier showed that crude oil inventories fell by 6.108 million barrels, far exceeding the expected value of 2.4 million barrels, igniting the confidence of the bulls.

It is expected that the EIA crude oil inventory announced in the evening will still be good for oil prices, and investors can wait for the oil price to pull back and do more on bargaining. In addition, the Fed's interest rate decision is also worthy of attention, which will have an impact on the U.S. dollar and U.S. dollar-denominated commodities.

The upper resistance level focuses on the September 15 high of 73.14, the July 30 high of 74.23 and the July 13 high of 75.51.

Below the support level focuses on the 70 integer mark, the 38.2% retracement level of 67.56 and the July 20 low of 65.01.

(U.S. crude oil daily chart)

Resistance levels: 73.14; 74.23; 75.51
Support levels: 70.00; 67.56; 65.01

Short-term operation advice: do more on dips.

At 14:53 GMT+8, US crude oil was quoted at US$71.52 per barrel.

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