EUR/USD 1.13587
-0.267%
Gold 3304.73
-1.311%
Oil 62.946
0.567%
USD/JPY 143.646
0.705%
GBP/USD 1.33184
-0.168%
GBP/JPY 191.311
0.579%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
On April 26, UBS said that the current market thinking is consistent with the banks basic forecast, that is, tariffs will be reduced from the current announced level for the rest of the year, and the Federal Reserve will further cut interest rates this year. However, as uncertainty in trade, economy and Federal Reserve policy remains high, expected volatility also remains high. However, UBS believes that the US stock market is attractive, and the S&P 500 index target continues to be 5,800 points by the end of the year. UBSs current basic forecast is that the Federal Reserve will cut interest rates by 75 to 100 basis points this year, but in the short term, the Feds policy flexibility seems more limited because it must balance concerns about economic growth with the risk of inflation recovery.According to AFP: Senior officials said that Ukrainian President Zelensky and US President Trump may meet in Rome.Spokesman for Ukrainian President Volodymyr Zelensky: Ukrainian President Volodymyr Zelensky has arrived in Rome to attend the Popes funeral.According to the Ukrainian National News Agency: Russian troops launched 414 attacks in the Zaporizhia region at night.Market news: Ukrainian President Zelensky and his wife arrived in Rome.

U.S. crude oil trading strategy on October 13: oil price rise slows down, need to be wary of callbacks

Oct 26, 2021 11:03

On Wednesday (October 13), US crude oil fell slightly, and the short-term gains slowed down, and the possibility of a callback is not ruled out. It is recommended that conservatives wait and see, and activists continue to buy more on dips.


Daily level: The rise of oil prices this week has been limited to a certain extent, and natural gas prices have also begun to pull back.

But the fundamentals behind it still haven't changed much, which determines that oil prices will continue to run at a high level or even continue to rise in the short term.

However, from a technical point of view, the RSI shows an overbought signal, which will cause a certain drag on the oil market bulls, so the possibility of a short-term correction is not ruled out. It is recommended that conservatives wait and see, and radicals continue to do more at low positions.

The upper resistance level focuses on various integer levels, and the lower support level first focuses on the psychological level of 80.00 near the 5-day moving average, and further focuses on the 10-day moving average of 78.46 and the July 6 high of 76.98.

(U.S. crude oil daily chart)

Resistance levels: 82.18; 83.00; 84.00
Support levels: 80.00; 78.46; 76.98

Short-term operation recommendations: conservatives wait and see, radicals do more low.

At 14:47 GMT+8, US crude oil was quoted at US$80.58 per barrel.

Suggestion