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On November 16, it was reported that Li Baian, former member of the Party Committee and Vice President of China Merchants Group Limited, is suspected of serious violations of discipline and law and is currently under disciplinary review and supervisory investigation by the Central Commission for Discipline Inspection and the National Supervisory Commission.On November 16th, according to the Finnish newspaper Helsingin Sanomat, European Central Bank (ECB) Governing Council member Rehn stated that the risk of slowing inflation should not be ignored. Low energy prices, a stronger euro, and declining wage and service sector inflation all suggest that overall inflation may be excessively below the ECBs 2% target. When asked if the ECB might cut interest rates again in December, Rehn said, "This risk cannot be underestimated." However, he also cautioned against the potential for rising inflation. Rehn stated that despite the Trump administrations tariff policies disrupting global trade, the Eurozone economy has shown resilience. Rehn also warned that the stock market "clearly faces the risk of a correction," emphasizing the importance of bank capital buffers. Driven by the US artificial intelligence boom, current stock prices appear high relative to the performance of the real economy and corporate profits. This requires caution.On November 16th, it was reported that the United States and Trinidad and Tobago are about to conduct military exercises in waters near the coast of Venezuelas Sucre state. On November 15th, Venezuelan President Maduro strongly condemned the exercises, calling the action "irresponsible" and a "threat" to peace in the Caribbean. Maduro stated that such actions are intended to put pressure on Venezuela, but Venezuela "will not be threatened by anyone." Recently, Trinidad and Tobagos Attorney General John Jeremy stated that the 22nd Marine Expeditionary Unit will be "intensifying exercises" in the country "in the coming days."1. Hungarian Prime Minister: Europe is on the brink of war. 2. Ukraine claims 1,200 Ukrainian prisoners will be released; Russia has not yet responded. 3. Russian Ministry of Defense: Russian troops have taken control of the Yablokovo settlement in Zaporizhia. 4. Ukrainian President Zelenskyy has ordered a comprehensive reform of state-owned energy companies. 5. According to RIA Novosti: The situation remains stable after an external power line to the Zaporizhia nuclear power plant was shut down. 6. Southern Ukrainian Defense Forces: Ukrainian troops have conducted a tactical withdrawal from the town of Novovasilivsk in the Zaporizhia region. 7. General Staff of the Armed Forces of Ukraine: A Russian oil refinery in Ryazan Oblast was attacked by Ukrainian forces; the refinery produces 840,000 tons of aviation fuel and other military fuels annually. 8. Russian Ministry of Defense: 247 Ukrainian drones were shot down in the past 24 hours. A Ukrainian military airport and energy facility related to the defense industry were attacked. 9. General Staff of the Armed Forces of Ukraine: Ukrainian forces struck the Sky-U radar station in Crimea, a military train in the Tokmok region of Zaporizhzhia, and a Russian troop assembly point in Volchansk, Kharkiv region.On November 16, the Kremlin announced that Russian President Vladimir Putin and Israeli Prime Minister Benjamin Netanyahu held a phone conversation on November 15, during which they had in-depth exchanges on the situation in the Middle East, including developments in the Gaza Strip, Irans nuclear program, and the situation in Syria.

U.S. crude oil trading strategy on October 14: oil price rises are suspended, activists can still do more on dips

Oct 26, 2021 11:03

US crude oil rose slightly on Thursday (October 14), and short-term oil prices still have a greater chance of rising, but the possibility of a callback is not ruled out. It is recommended that conservatives wait and see, and radicals do more on dips.


Daily level: The short-term rise of oil prices is temporarily suspended, but the supply and demand pattern behind it has not changed, so there is still a great opportunity for rising in the market outlook.

The technical overbought signal still exists, which has become a negative factor restricting oil prices. The possibility of oil price correction is not ruled out in the day, but the rise is still the main theme.

In terms of operation, it is recommended that the shorts leave the market temporarily, the activists can continue to buy more on dips, and the conservatives temporarily wait and see. At present, the overall oil price is still in the sideways stage.

The initial resistance above focuses on the October 11 high of 82.18, and further attention to the psychological barriers of 83 and 84.

The initial support below focuses on the 5-day moving average of 79.06, and further attention to the July 6 high of 76.98 and the 20-day moving average of 76.13.

(U.S. crude oil daily chart)

Resistance levels: 82.18; 83.00; 84.00
Support levels: 79.06; 76.98; 76.13

Short-term operating suggestions: conservatives wait and see, radicals do more on dips.

At 14:44 GMT+8, US crude oil was quoted at US$81.09 per barrel.