Xie Yayan: July 27 spot crude oil intraday market analysis and order point

Exploration and production companies met in Denver last week to discuss ways to reduce the cost of exploring for oil using unconventional extraction techniques, hydraulic fracturing and horizontal drilling. This will put further pressure on the market, and supply expectations will rise again if North American oil production increases. But it will be hard for oil prices to recover. From the close of oil prices last week, the K line continued to come out of a big negative decline, as of June 20, since the start of the decline, has come out of 6 negative declines, while the oil price also fell to the Fibonacci retracement 0.236 position 292. From this week's chart, the oil price is likely to take a rebound market, the rebound point is expected to be near 314 prices. So this week there is a greater probability of oil prices first down after rising, which the current support needs to pay attention to 292-290 resistance points, and pay attention to the 286 point support in the region, so it is recommended at the beginning of the week to short, fall to below 290 after observing dips! The daily chart of oil prices is also down 3 negative, the current above continues to be suppressed by the downward resistance, including the current 5 moving average near 298, and the above 10 moving average near 306. So once the price breaks through 306 after there is a large possible rebound, it is suggested that the average has not broken, close to its short, once the breakthrough is abandoned, the indicator of oil prices also exist after the low collation of the hook line signs, this week there is a pull up behavior, it is recommended not to blindly fall. Spot crude oil intra-day operation suggestions: (1) Oil price rebound above see 297-98 short, stop loss strict 301., the target to see 293-291, break to 288 departure; (2) Below the price of oil see 286 long, stop loss 283, the target to see 291-293-295 position; (3) If the oil price breaks 301, it will continue to rebound and pay attention to 306-310. If it breaks 286, it will pay attention to 280 support position and then make timely analysis;