EIA released nearly two weeks of inventory data, a cumulative increase of 17.5 million barrels, more than expected accumulation led to a rapid decline in the disk, of which crude oil inventories reached 439 million barrels in the week of November 3, a higher since August. In addition, the market expects Saudi Arabia to extend production cuts until January next year. At present, the accumulation of expectations is deepening, and the upward movement of crude oil prices is blocked. Yesterday, oil prices on the technical side of the weak unilateral downward trend, ASEM slightly back pressure 76.6 line down to break the bottom, the evening accelerated down to 75 and 74 two integer marks, and continued to close weak near the 72 mark, the Japanese line Baoshu pressure down to break the bottom bardo, closed at a low level for three consecutive days. Oil prices fell 4.81% yesterday, closing large negative line, the decline has accelerated signs. From the perspective of technical indicators, the moving average system helped the downward form to be complete, and the superimposed MACD was located below the zero axis for a long time, and the overall form had obvious short advantages. On the operation, it is recommended to consider the rebound and short, low and many are auxiliary.
WTI Crude Oil Handling Recommendations:
Strategy 1: Rebound near 74.5-75.2 short entry, stop loss 0.6 points, target 72.6-72.2 line;
Strategy two: Callback 72.2-72.5 near multiple single entry, stop loss 0.6 points, the target 74.0-75.0 line. Currently there are orders do not know how to operate friends, you can pay attention to me, I will answer for you!