The number of U.S. jobless claims fell to a three-month low, and global stock markets generally rebounded, driving a rebound in oil prices. In addition, some bears left the market ahead of an emergency EU energy meeting on Friday, also providing support to expectations. However, due to factors such as EIA crude oil inventories unexpectedly rising sharply, interest rate hikes by most central banks around the world exacerbating the risk of a global recession, increasing U.S. production, and epidemic prevention and control measures in Asia, oil prices may still fall back in the market outlook.
During the Asia-Europe session on Friday (September 9), U.S. crude oil rebounded in shock and is currently trading around $84.15 per barrel, an increase of about 1.7%. The number of U.S. initial jobless claims fell to a three-month low, and global stock markets generally rebounded. , led to a rebound in oil prices, in addition, before the European Union emergency energy meeting on Friday, some bears left, but also to provide support for the expected. However, due to factors such as EIA crude oil inventories unexpectedly rising sharply, interest rate hikes by most central banks around the world exacerbating the risk of a global recession, increasing U.S. production, and epidemic prevention and control measures in Asia, oil prices may still fall back in the market outlook.
This trading day will focus on the EU energy ministers meeting, changes in US crude oil rigs, and pay attention to news related to the geopolitical situation and speeches by Fed officials.
4-hour level: rebound after shock and fall; MACD golden fork, KDJ golden fork, and K-line recorded a bullish signal of “engulfing” at a relatively low level. There is a further opportunity for short-term oil prices to rebound, and may step back to confirm the key position of 85.71 in the early stage. The middle rail resistance of the tree line is also near this position. If it can break through this position, it will increase the bullish signal in the market outlook. Further resistance is near 87.72, the 38.2% retracement resistance of the 97.64-81.17 decline is also near this position, the 50% retracement resistance is near 89.40, and the Bollinger Line resistance is currently near 90.96.
If it cannot break through the resistance near 85.71, which is more likely at present, the market outlook will tend to return to the downtrend. The initial support is near the 10 moving average at 83.00, the overnight low is near 81.17, and then the 80 integer mark.