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Wan Mengling: August 28 spot crude oil rose after the market news

2018-05-11 09:36:35

Wan Mengling: August 28 spot crude oil skyrocketing after the market on Thursday (August 27) US crude oil (WTI) crude oil futures rose 10%, the largest increase in March 2009, closing at $42.56 / barrel; Brent crude also rose 10 percent to close at $47.56 a barrel, down 20 percent this year. At the same time, renewed optimism about the outlook for demand, as fears of a slowdown in the Chinese economy subsided, helped push prices to their biggest gain in more than two years. Earlier this week, WTI oil prices fell to a six-and-a-half year low, and on Thursday, WTI, Brent crude oil both jumped more than 10%, strong U.S. data, global stock market recovery, crude oil inventories and other factors to promote a violent overnight rally in oil prices; The author said in the analysis that the main reasons for the sharp rise in crude oil: after the release of beautiful second-quarter GDP data in the United States, some traders reacted to the rising crude oil prices to hit the short stop loss level and buy crude oil to cover, which pushed up the oil price to a certain extent; Last week's U.S. Commodity Trading Commission report showed that the current short position in the crude oil market has reached its peak since April, and the bearish market is likely to get worse. Time 22:37-41 period, due to the previous bet on crude oil short excessive, the market staged a short play. NYMEX's most active October WTI futures contract volume totaled 13,023 lots, a large order to push WTI crude oil all the way up and hit the $41 level; A sharp upward revision to U.S. GDP data overnight, a rebound in stocks and a sharp drawdown in crude inventories prompted bearish traders to rush to cover short positions. Trading tip: According to two sources cited by Bloomberg, the European Union is drafting a political agreement to prepare for future energy talks with Iran; Specific talks are said to take place as early as November, but only after the nuclear deal reached in July is finalized. The agreement will cover five aspects: oil and gas contracts, renewable energy and efficiency, power markets, energy infrastructure and investment in Iran. Spot crude oil technical analysis: Driven by the closure of crude oil exporting countries Nigeria oil pipeline traction, coupled with buying, yesterday's US trading in the end of the price of large profit taking, resulting in bearish market appeared; Crude oil daily closed a solid positive column, the price through the short-term average and the medium rail and stand firm, as a whole, the oil price has broken the downward channel, the overall trend shows an upward breaking pattern, the short-term price to form a bottom taste, the current support moved to 268/265/262, above the 275/278 resistance, followed by 282 down line. On the 4-hour chart, crude oil opens the space on the orbit, however, the price and the average deviation rate is high, the short-term indicator is in an overbought state, the trend needs to be corrected, the main support below 265-263, the author Wan Mengling operation to fall low to do long, high short is supplemented. Keep an eye on the impact of early morning drilling data; Operation suggestion: 1, crude oil price correction 264/265 long, stop loss 4 points, the target to see 270-272; 2, the crude oil price first saw 275 short, stop loss 278, the target to see 270-268-266; 3, crude oil prices in the short term to suppress 275; Below 270 support, need to focus on; The above suggestions and trend analysis are subject to Luyin quotation, other platforms can refer to trend analysis; Writer: Wan Mengling