Crude oil latest market trend analysis:
Crude oil news analysis: Monday (January 15) in the US market, crude oil prices traded near $72.10 per barrel, after the high price of oil on Friday did not hold the rise, which means that investors at this stage did not form a consistent view of the price of the future market, both sides of the short and long, which directly led to the oil price after the New Year staged a continuous tug of war. On the one hand, the effect of Opec + first quarter production reduction action still needs time to verify, Opec + core production reduction countries have made positive remarks to try to boost market confidence, EIA short-term energy outlook judged that Opec + production reduction will lead to an average reduction in global oil inventories of 800,000 barrels per day in the first quarter of 2024. Although from a rational point of view, judging from the statements of Opec + core production cutting countries will comply with voluntary production cuts to support oil prices, investors have expectations, but they are cautious when betting, and confidence is not enough; The recent signs of rising geopolitical factors have injected a premium into the oil price, and have improved market sentiment to a certain extent, but overall the current situation in the crude oil market still allows investors to maintain restraint, and the recovery operation is still cautious, after the US crude oil surged to $75.2, the lack of recovery willingness makes it difficult for the oil price to hold the rise, and the oil price eventually returns to a bearish stalemate. From the perspective of the overall oil market situation, at the current stage, various factors such as geopolitical factors and macro-level expectations of European and American interest rate policies will continue to affect oil prices, and investors' views may fluctuate at any time, and the trend of oil prices is poor. Pay attention to the rhythm and control risks.
Crude oil technical analysis: crude oil last week cross K line closed flat, repeated down and up, but the end still did not close at a high level, recover the neutral value of the range. Daily line high harvest low harvest small Yin cross, Yin and Yang exchange of shock saw did not change, although there is a high, but there is no sustained high. Day line one Yin and one Yang washing method. This week will continue as the deadlock remains to be broken. 4-hour chart height detection and back test, break through the upper rail and return to the upper rail, virtual break is not real break, the washing oscillation in the interval has not changed, the beginning of the week may first seek support for the downward rail, after the start of stability, continue to see the oscillations. Is the current bottom of the pan rise or repeated high fall ready to break the low? Subject to confirmation. Waiting for the direction to become clearer, the current low support is still focused on the 69.20-71.0 area. The low point of the step of the hour chart is upwards. Repeated dip and rise, but no strong high close, so that the long and short continue uncertain, the daily line began to close parallel. It is expected that it will take time to break the shock seesaw, and the short term will look the same between the upper and lower rail around the interval. On the whole, the crude oil operation idea today is suggested to rebound high altitude, back to the low is more than supplemented, the above short-term attention to 73.5-74.0 line resistance, and the below short-term attention to 71.0-70.5 line support.