Ultima MarketsMarket analysis: Crude oil production forecast tightened within the year, with heavy oil distribution...

Today's Focus--crude oil。

Fundamentally,With OPEC andEIAAfter predicting that the production reduction will tighten the market in the coming months, Brent crude oil has finally returned90Above the US dollar.

The International Energy Agency will also release its monthly report today, which is expected to provide more clues to market conditions. The market focuses on whether the report also emphasizes that crude oil production will tighten supply for the rest of this year.

Technically,The random oscillation index of the crude oil daily cycle has once again risen with a golden cross, indicating the arrival of bulls. The moving average group also raised their heads to support the market's further upward trend.

Crude oil daily cycle chart, sourceUltima Markets MT4）

At present, there is no moving average pressure above crude oil, and the resistance of bulls is relatively small. Although the signal of random oscillation indicators currently occurs in overbought areasKFrom the line chart, even if the market continues to decline, there is still support from the moving average group.

(Crude oil)1Hourly cycle chart, sourceUltima Markets MT4）

1On an hourly cycle, crude oil oscillates near5After trading days, we finally broke through the resistance and went up yesterday. At present, the random fluctuation indicator has a dead cross downward, and there is a potential adjustment probability in the Asian market. Priority should be given to the resistance level area that breaks through. After waiting for the random oscillation indicator to cross again, you can pay attention to the long entry opportunities.

(Crude oil)1Hourly cycle chart, sourceUltima Markets MT4）

according toUltima Markets MT4InpivotIndicator, daily central price level91.892，

91.892Upward bullish, first goal93.001Second objective93.733

91.892Under bearish, first target91.128Second objective89.995

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