During the Asia-Europe session on Thursday (August 4), U.S. crude oil fluctuated in a narrow range near the low of more than five months, and is currently trading around $90.78 per barrel. The unexpected increase in EIA crude oil inventories and gasoline overnight and the decline in exports increased concerns about weak demand; the number of newly diagnosed new coronary pneumonia in Japan in a single day was close to 250,000, a new high since the outbreak, and also increased demand concerns; and the OPEC + meeting decided to provide a small supply Production, Iranian and U.S. officials said they would travel to Vienna to resume indirect talks on Iran’s nuclear program, boosting expectations for an increase in supply, and overnight oil prices tumbled to a more than five-month low near 90.31. From a technical point of view, oil prices have preliminary If it breaks, the middle line may usher in a big wave of decline.
This trading day focuses on the changes in the number of initial jobless claims in the United States, the number of layoffs by challenger companies in the United States in July, and the news related to the geopolitical situation and the new crown epidemic.
Daily level: shock and fall; MACD is dead, KDJ is dead, oil prices have fallen below the 93 mark, the first-line long-term support, and the initial break may accelerate the decline in the future. The mid-line target can be seen around $82. You can refer to January 24. Lows around 81.90 and even the January 3 lows around 74.27. In the short-term, pay attention to the 90 integer mark, and pay attention to the support near the low of 87.46 on February 18.
The initial resistance above is near the low of 92.41 on August 1, and the resistance of the 200-day moving average is near 95.12. If this position is unexpectedly recovered, the short-term bearish signal will be weakened. For further resistance, refer to the 21-day moving average near 97.55.