If there is a substantial breakthrough, it will be very bullish on oil prices

Huitong Network3month3Daily news——INVESTINGColumnist Chris Kimble(Chris Kimble)Friday(3month3day)Point out that one year agocrude oilThe price has sharply declined and has plummeted nearly within a year50%. But how did the situation change a year later? The price of crude oil has changed from2016The annual low point has risen by more than50%。

We are currently entering the seasonal demand month for crude oil, and Kimble predicts the future6The monthly average increase will be within10%Left and right. But thereafter, oil prices will continue to remain the same as in the past12Will it continue to rise like last month? Will the seasonal driving force continue to rise? Through the following picture30The annual oil price trend chart may provide some insight.
The triple test of oil prices cannot be ignored!30The annual trend has predicted the geometry of the future market

past times30Most of the year, oil prices fluctuated through the green channel. At the beginning of last year, oil prices stopped falling and after a year of rebound, they have already touched30At the bottom of the annual upward channel, as shown in the figure1Mark the position of the number. This is also a triple testing point——52.77dollar/If the barrel breaks through substantially, it will be very bullish on oil prices.

Jinbul also pointed out that the current support points are also being tested in the graph2Number marking position——52.77dollar/Barrel, crude oil trading risk preference does not want this support level to collapse.

At this point, traders are very confident that crude oil prices will rise, and this level of confidence was last seen in2014Mid year - before the significant drop in oil prices. Oil prices are higher than52.77dollar/The trading volume near the barrel is the highest in history, so the support level remains at2The number tag is particularly important. Long positions in crude oil want to alleviate downward pressure - like800A pound gorilla, driven out of the market.

Huitong Network Market Software Display, Beijing Time16:47, USANYMEX 4Monthly crude oilfuturesnewspaper52.84dollar/Barrel, Brent5Monthly crude oil futures report55.39dollar/Bucket.
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