July 1st US Crude Oil Trading Strategy: Follow OPEC+ Conference Provider FX678

On Thursday (July 1), US crude oil rose slightly. In the day, we will focus on the results of the OPEC+ meeting. It is recommended that conservatives wait and see for the time being, and activists continue to buy more on dips.

Daily level:U.S. crude oil trading tended to be cautious on Wednesday, mainly because of the important OPEC+ monthly meeting on Thursday. Intraday material volatility is relatively large.

The current market mainstream expectation is to increase production by about 500,000 barrels per day. However, due to the different opinions of Saudi Arabia and Russia, there are still some variables in the results of the meeting. However, even if the output is increased by 1 million barrels per day, it will be difficult to change the current situation of crude oil market demand exceeding supply. .

In addition, the technical side is obviously beneficial to the bulls. As long as oil prices hold the 10-day moving average in the short-term, the bullish trend will remain unchanged. It is recommended that conservatives wait and see for the time being, and radicals continue to buy more on dips.

Continue to focus on the pressure of the integer mark at the top, and focus on the 10-day moving average at 73.16 for initial support at the bottom, and further focus on the 20-day moving average at 71.86 and the 70 mark at the bottom.

(U.S. crude oil daily chart)

Resistance level:74.00；75.00；76.00
Support level:73.16；71.86；70.00

Short-term operation suggestions:Conservatives wait and see, while radicals continue to buy more on dips.

At 15:07 Beijing time, US crude oil was quoted at $73.66 per barrel.