September 23 U.S. crude oil trading strategy: Inventories continue to fall beyond expectations, and it is recommended to continue to buy more on dips

On Thursday (September 23), US crude oil rose slightly. Short-term crude oil inventories and other factors continued to support the rise of oil prices. Investors are advised to do more on dips.


Daily level: Crude oil prices continued to rise on Wednesday, and EIA crude oil inventories fell more than expected, indicating strong demand. However, 16.2% of the oil production capacity in the Gulf of Mexico has not recovered, and the market is worried about insufficient supply.

From a technical point of view, MACD and RSI Jin Cha, oil prices are above the averages of each cycle, and the Bollinger Bands are slowly rising, indicating that oil prices may rise further. Investors are advised to do more on dips.

The upper resistance focuses on the September 15 high of 73.14, and further attention to the July 30 high of 74.23 and the July 6 high of 76.98.

Below support is concerned about the September 2 high of 70.61, and further attention to the 100-day moving average of 69.58 and the September 9 low of 67.56.

(U.S. crude oil daily chart)

Resistance levels: 73.14; 74.23; 76.98
Support levels: 70.61; 69.58; 67.56

Short-term operation advice: do more on dips.

At 14:58 GMT+8, US crude oil was quoted at US$72.32 per barrel.