In the Asia-Europe session on Monday (October 17), U.S. crude oil rose slightly and is currently trading around $86.39 per barrel. The U.S. dollar index weakened, and most global stock markets rebounded. The U.S. Treasury said the specific price ceiling for Russian oil has not yet been decided. , coupled with the tense geopolitical situation in Russia and Ukraine, attracting bargain-hunting buying to provide support for oil prices; but the US dollar crude oil drilling data rose to the highest level since March 2020, and the global central bank is expected to raise interest rates. If it does not go away, there are still further downside risks in the oil price outlook.
The technical signal shows that the market outlook is slightly biased to the downside.
This trading day will pay attention to the EU foreign ministers meeting, the speech of the European Central Bank officials and the speech of the British Chancellor of the Exchequer Hunt, and pay attention to the news related to the geopolitical situation.
Day level:Shock; MACD red column shrinks, KDJ is dead, the 5-day moving average crosses the 10-day moving average to form a dead cross, the oil price falls below the 55-day moving average, and the downside risk has increased in the market outlook. Pay attention to the support near the 21-day moving average at 84.77. Position, oil prices may further fall to the vicinity of the lower Bollinger Band 77.08; in the short-term, there is also some support near the September 29 high of 82.92, the 80 integer mark and the September 30 low of 79.12.
In view of the current 21-day moving average still providing support for oil prices, the MACD golden fork signal is still there, if oil prices can rise above the 10-day moving average of 88.40, it will weaken the short-term bearish signal; further resistance is near the high point of 90.36 on September 5; Bollinger The online rail high resistance is near 93.31. If the resistance is unexpectedly broken, it will increase the bullish signal in the market outlook.
resistance:87.36；88.40；90.36；93.31；
support:84.77；82.92；80.00；79.12；
Short-term operation suggestions:Cautious shorting on rallies.