Us crude oil volatility weakened in Asia and Europe on Monday and is now trading at $84.11 a barrel, down about 1.2%. Crude oil imports from major Asian countries fell in September, slightly dragging down the performance of oil prices. A shares weakened sharply after a series of delayed Chinese data, raising concerns about the demand outlook. However, investors still need to keep an eye on the game between the United States and Saudi Arabia, with the Biden administration last week extending strategic crude oil supplies after OPEC+ decided to cut production earlier this month to support oil prices.
This trading day needs to focus on October PMI data from Europe and the United States, and the market is expected to be very pessimistic, which is expected to increase fears of a global recession and may further drag on the performance of oil prices. In addition, we need to pay attention to news related to the geopolitical situation in Russia and Ukraine.
4-hour level:Concussion; Bollinger line track after closing horizontal operation, pay attention to Bollinger line track 82.85-86.70 regional breakthrough, the current MACD red column shrinking, and there is a dead fork trend, KDJ gold fork is destroyed after the preliminary dead fork, short-term slightly downward, if it falls below the Bollinger line rail 82.85 support, 76.23-93.61 rally 61.8% withdrawal support is also near this position, the future bearish signal will be increased. Further support is near 82.06, followed by the 80 integer gate, and the September 30 low is around 79.12.
If the oil price can hold the support under the Bollinger line, then there is still a chance for the bulls in the future. The initial resistance is near 84.77 in the middle track of the Bollinger line, the high resistance on Friday is near 85.87, and the rail resistance on the Bollinger line is around 86.84. You can also refer to the 38.2% withdrawal position 86.96. If the oil price strongly exceeds this resistance, increase the short-term bullish signal.
Resistance:84.77；85.87；86.96；89.50；
Support:82.85；82.09；80.00；79.12；
Short-term operation recommendations:Conservatives wait and see; activists are cautious when they go high.