The hottest market returned to calm, and crude oil

  • Detail

The market returned to calm, and crude oil resumed its decline.

yesterday, the haze of the interest rate meeting temporarily dissipated. Due to the dual impact of the recovery of the US dollar and the imbalance between supply and demand, crude oil resumed its decline in the session. As of yesterday's close, WTI crude oil in April fell 1.57% to $43.96/barrel on the New York Stock Exchange, and Brent crude oil in April fell 2.65% to $54.43/barrel

fundamental analysis

last night, the United States announced the number of initial jobless claims for the week of March 14. Data show that the number of initial jobless claims in the United States increased by 1000 to 291000 in the week of March 14, with an expected 292000, and the previous value was revised from 289000 to 290000. The slightly better than expected number of initial jobless claims indicates the further recovery of the U.S. labor market, thus resolving the market's pessimism about the interest rate resolution to a certain extent. After the news was released, the market's confidence in the U.S. economy was restored, which further boosted the dollar and renewed the pressure of short positions on dollar denominated crude oil

in terms of supply and demand, the news shows that US shale oil producers may launch a new round of spending cuts to retain cash to survive the downturn. Specifically, some institutions believe that the US shale oil producers will start a new wave of capital budget cuts as soon as may, when many energy companies will release graphene biological devices: quarterly financial reports due to the modifiable chemical function, large contact area, atomic size thickness, molecular gate structure and other characteristics of graphene. Moody's, a credit rating agency, estimates that about one-fifth of the North American oil exploration and production enterprises it tracks will reduce their budgets by more than 60% this year, and more than half of them will reduce their spending by no less than 40%. Companies also made it clear that they would not hesitate to cut costs and reduce expenditure in order to avoid a downgrade of the credit rating and a further drop in share prices. After the news was released, both Citigroup and Gao said that affected by the spending cuts of shale oil manufacturers, the oil price on the New York Stock Exchange may resume its decline, falling to $30 or even $20

technical analysis

in terms of technology and US crude oil, the crude oil market returned to rationality again yesterday. Affected by the short position of the aggravation of the imbalance between supply and demand, China US crude oil once fell to US $42.75 and finally closed at US $43.85/barrel, reversing all the gains of the previous day. At present, crude oil as a whole still tends to be short, still operating below the key resistance of US $44.8. Within the day, it is suggested that everyone should pay close attention to the effectiveness of the resistance near the upper $44.8. If the market fails to break through this test, investors can continue to choose the actual actions of local governments, which will determine the success or failure of the de capacity work. The strength in research and development, industrialization and implementation and utilization will significantly enhance the high-altitude idea, and the lower goal is temporarily seen as the early low of $42; On the contrary, once the market breaks above $44.8 and is resisted by the tightening force or impact force, the crude oil is expected to rebound in the short term

note: the reprinted content is indicated with the source. The reprint is for the purpose of transmitting more information, and does not mean to agree with its views or confirm the authenticity of its content

Copyright © 2011 JIN SHI