Crude oil: There is still room for today's strategy to rise

29 Agu 2023

In the U.S. market, WTI crude oil rose and closed down, once rising to 80.7/barrel, but failed to hold the $80 mark, closing down 0.03%, at 79.94/barrel, due to the threat of tropical storms in the U.S. Gulf crude oil production and news that Saudi Arabia may extend the production cut time and other benefits and rise, but the Fed's further interest rate hike worries limit oil prices,

Therefore, oil prices continued to run on the strong side at the beginning of the session. Overall, the probability of the Fed raising interest rates has risen, and increasing demand concerns have limited oil price gains. However, tropical storms in the US Gulf Coast may cause supply disruptions to bring support. Before this week's non-agricultural data, oil prices may remain volatile around US80/barrel. In the short term, pay attention to the impact of API data and market uncertainties on oil prices.

Short near 81.60, stop loss: 82.20, target 80.60

First step back around 80.40 to go long, stop loss: 79.90, target to be determined

29 Agu 2023

Catatan

Share this point of view with my friends, I hope you can make more money and realize your dreams. Friends in need can keep up