Crude oil market trend analysis;
In Asian trading on Wednesday (January 23), crude oil prices traded near $74.50 per barrel, and oil prices continued to fluctuate sharply during the day on Tuesday, and finally closed down slightly. API data in the morning showed that crude oil went to storage significantly more than expected, but the accumulation of refined oil products, especially gasoline accumulation more than expected offset some of the role of crude oil. Oil prices have continued the slow rise of the shock center of gravity, but in the face of upward resistance, funds are still very cautious and tentative, which also makes it difficult for oil prices to have a continued strong performance. The news that Libyan oil fields returned to normal production levels on Tuesday once limited the performance of oil prices, but North Dakota oil production is expected to fall by 250,000 to 300,000 barrels per day due to cold weather and pushed oil prices to recover the fall in the night session, and finally the funds continue to chase up the willingness of oil prices or continued the sharp volatility of the day. Tamfa believes that the positive factors supporting oil prices at the supply and demand level of the crude oil market slightly prevail. On the supply side, in the context of Opec + production cuts, geopolitical factors also do not bring disturbance to the market, and the domestic crude oil processing volume on the demand side has continued to increase over the past month, especially after local refineries obtained the new annual quota, the processing volume has increased significantly, and the increase in the supply of refined oil products has limited the performance of domestic gasoline and diesel prices, but the demand for crude oil imports has also started. Support for crude oil prices. The oil price situation is gradually recovering, but has not changed the rhythm of repeated sawed-off, want to break the current stalemate situation, the crude oil market also needs to appear more strongly stimulate investors to enhance the enthusiasm of the factors appear, Brent breakthrough and stand firm 80 US dollars can improve the market mentality and expectations, otherwise in the face of strong resistance to regional oil price shock cycle there is a possibility of extension, This requires investors to be patient and watch the pace.
Technical analysis of crude oil; Crude oil yesterday or the cross K line closed, the daily line is also a continuous star K line finishing, to break the stage of not broken, the short line in the momentum. However, the daily line has stood above the average for several consecutive trading days, and it has repeatedly tested the high break level. The odds of an upward breach are increasing. Wait for a breakthrough. The 4-hour chart with the recovery of the dip yesterday still recovered the high level, and the Brinroad was still closed for the time being. The small cycle is oscillating upward, but the upper rail high point has not yet formed a breakthrough, making the space continue to be uncertain, although the structure is arranged more, but it does not break the height and does not open the space, increasing the frequency of washing disk sawing. Short-term operation is more testing the grasp of the point, the day combined with the shape of flexible response, in general, crude oil short-term operation ideas suggest that the above short-term attention to 75.5-76.0 resistance, below the short-term attention to 72.5-72.0 support.