[b]"Investment is people's expectation of the future of assets",This is Dongsheng Finance[/b]
[b]Before we talk about the oil market, let's review last FridayWTICrude oil trend, with a slight increase in crude oil during the day, followed by a significant decline in the US market, reaching an intraday low36.66The US dollar immediately rose and regained lost ground[/b]
[b] Last FridayWTICrude oil closing quotation37.3dollar/Barrel, increase0.79%[/b]
[b]Brent crude oil closing quotation39.79dollar/Barrel, increase0.23%[/b]
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[b]Last week, crude oil prices broke free from the volatile market and continued their downward trend. Concerns about demand have also led to the rapid spread of pessimistic expectations. However, according to market analysis, the downward trend in crude oil prices is not due to a significant deterioration in fundamentals, but rather to the cumulative adjustment expectations and risk release in the previous three months[/b]
[b] [/b]
[b]Due to the high drop in US stock prices bringing more uncertainty to the macro market, the delay in the implementation of the new round of US economic stimulus plan has cast a psychological shadow on the market. Coupled with Saudi Arabia's reduction in sales official prices, it has posed a negative impact on crude oil. Currently, the main support for crude oil is OPEC's production reduction[/b]
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[b]But market news shows that tropical storm "Sally" is forming in the Gulf of Mexico, local time9month12On the th, oil producers in the Gulf of Mexico in the United States began evacuating offshore facilities. Chevron and Murphy Petroleum began evacuating workers from offshore oil and gas platforms on the same day. Royal Dutch Shell and other companies have stated their readiness to take action if necessary[/b]
[b] [/b]
[b]Also providing slight support for crude oil, Tropical Hurricane Sally strengthened on Sunday and is set to become a Category 2 hurricane. Within less than a month, oil production was interrupted twice due to storms, and the last time crude oil was affected by a hurricane, it hit43The high level of the US dollar, let's see if this hurricane can pull crude oil up40The position of the US dollar[/b]
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[b]According to last week's data, the United States8The consumer price index rose steadily in June, and the prices of second-hand cars and trucks exceeded51The biggest increase in the past year may be due to the fact that American people avoid taking public transportation because of fear of COVID-19 infection[/b]
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[b]Due to the impact of oil pricesCPIAn important factor, this data is due to the rebound in demand for second-hand cars, which to some extent reflects the improvement in demand and offsets the poor performance during the summer travel peak[/b]
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[b]WTIFour hour trend of crude oil, Bollinger zone parameters20day[/b]
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[b]Let's take a look with a Brin tapeWTIThe trend of crude oil has returned to the Bollinger Belt on a daily basis, and crude oil has stopped its downward trend. Candles have emerged from consecutive positive periods, and due to market news, the Gulf of Mexico is once again facing a hurricane. In the future, crude oil will experience a brief strengthening trend[/b]
[b] [/b]
[b]In terms of the four hour trend, after a unilateral decline in crude oil36.1After stepping on the support, it rebounded and is currently within a fluctuating range, while the Bollinger Belt pattern shows a narrowing trend. Today, OPEC will release its monthly report, which will18--20Announced around midnight, the volatility of the crude oil market will increase during this time period[/b]
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[b]Today's crude oil operating point, the current price of crude oil is long, and the target is38.8，40.0Stop loss36.5[/b]
[b]Author: Dongsheng Finance and Economics[/b]
[b]Writing time:2020/9/14[/b]
[b]The above views are for reference only and do not serve as a basis for firm trading. The article is written by Dongsheng Finance and Economics. If reprinting is required, it must be approved by the author or indicate the source. Reproduction of my article without my consent will result in legal liability being pursued in accordance with the law[/b]
