EIA crude oil inventory unexpectedly exceeded expectations

Fundamental analysis:

Crude oil remained volatile around 115.756. As of June 10, the EIA crude oil inventory change of the week actually announced an increase of 1.956 million barrels, expected to decrease by 134.1 barrels, and the previous value increased by 2.025 million barrels.

Crude oil usoil - 4-hour K-line diagram display:

Technical comments: the high level of the Bollinger belt index channel fluctuates in a wide range for a long time, and the amplitude space gradually opens. The short-term power continues to decline near the downtrack of the Bollinger belt index, and fluctuates after the low level reaches the node near 114.501. The short-term short-term power shows signs of rapid retreat. The MACD index is at the lower side of the 0 axis to maintain a weak downward trend, and the RSI index is at the lower side of the 50 equilibrium line to move downward continuously;

Multi empty turning point: 116.583

Pressing position: 118.367, 119.755

Support position: 114.105, 112.519

Trading strategy: bearish below 116.583, target 114.105, 112.519

Alternative strategy: bullish above 116.583, target 118.367, 119.755

The above analysis is a personal point of view and is for reference only.