Early assessment: strong incoming weaken Iran crude oil rose

Number of visits: Date:2016-03-15

US crude oil was up 0.99%, closing at 41; Brent crude closed at 42.12, rose to 0.53%. Spot heavy opening after 1868, the US matching period refresh intraday high of 1905, under pressure down to 1863, late to close at 1885, up 1.34%.

Market Overview

China January-February industrial growth accelerated to 5.4% decline the highest since November 2008 low.

Oil service company Baker Hughes (BakerHughes) released data show March 11 week, the US oil drilling decreased by 6 units to 386 units, down for the 12th consecutive week, refresh since December 11, 2009 low.

IEA monthly report released said, because of the high cost of crude oil supply outside OPEC reduced output within the organization to reduce the global surplus of downsizing, oil prices have bottomed out.

Iran's oil production long confirm agreement temporarily freezing oil-producing countries to join the 20th meeting basically hopeless.

Summary Understanding the market

Xin analysts country analysis, due to the adjustment of industrial structure in the industrial economy stabilized foundation is not strong, comprehensive reasons, 1--2 year, China industrial production growth rate to fall, an increase of 5.4%, of which crude oil processing volume compared with December reduction of 27,000 tons of crude oil raised concerns about the demand outlook. International crude oil IEA monthly report released by the Energy Information Administration, said there are signs that oil prices may have bottomed, high-cost producers are cutting production, Iran's crude oil output fails to reach 40 million barrels / day of the report, in fact, increased by only 300,000 bbl / day of crude oil market has played a positive role. But Iran's vice president stressed that Iran's crude oil exports since the end of sanctions, an increase of 40 million barrels / day, in the next few months will increase export volume to 200 million barrels / day, with the IEA monthly report opposing views, weaken the bullish impact on the crude oil market. OPEC Monthly Oil Market announced today, concerned about their expectations for crude oil demand and output.

technical analysis


Figure 1. Spot the heavy oil K line chart

Guoxin analysts believe that Asian heavy oil spot matching period continuation of the upward trend from the 1866 exploration to 1897, wants to break through 1900; European trading hours in the 1878-1897 range sideways; the first time on the probe America plate intraday high of 1905, followed by downward pressure refresh intraday low of 1863, closed late in the day moving average near 1885, intraday volatility 42 points, was up 1.34%. Bollinger was flared horn run, approaching the daily Bollinger running on the track, a strong upward force. MACD double flared up, Hongzhu longer neutral ones; KDJ three lines in the high reaching into the overbought zone, there is a short-term technical correction; RSI three lines flared front row, indicating short-term direction is less clear. Comprehensive, spot heavy line running close to 1860, still maintains dips do more thinking.


Figure 2. Spot heavy hourly charts

Spot heavy trading strategy

Support levels: 1786; 1711;

Resistance: 1990; 2020;

Radical near 1870 admission more than a single wet storage, target 1940, stop loss 1845. Changing market, instant suggestions please sign Guoxin advisor platforms accessible.

Robust who wait and see.

Today's focus


Table 2. List of important data

OPEC announced monthly oil market, beware cause huge fluctuations in oil prices, Guoxin research suggest that investors wet storage short-term operation, strict full stop.

instruction manual:

1, the trend is king, flow, contrarian for the dead;

2, the establishment of the position will be set to stop, do not leave things to chance;

3, the vagaries of the market days, subject to change, please pay attention to instant suggestions related comments, as well as consultants platforms.

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