Oil distribution: low level vibration and upward movement

The oil distribution remained volatile near 103.951, and the Russian court requested the Caspian pipeline Union (CPC) to suspend operations for 30 days. Caspian oil pipeline is responsible for about 1% of the global oil supply. Investors are increasingly worried that energy risks may plunge the region into a landslide. A severe economic shock will make it more difficult for the European Central Bank to tighten policy and may widen the interest rate gap with the United States.

According to the 4-hour chart, the low-level bull power continued to fluctuate and rise to the node near the medium track of the brin belt index, and the short-term bull pull-up trend may continue. The brin belt index showed a closing trend. The MACD index was in the short position, and the low-level shock moved up, and the RSI index was in the short position, and the maintenance shock rose to the lower side of the 50 equilibrium line;

Long short turning point: 103.319

Pressing position: 106.111, 107.787

Support position: 101.588, 99.671

Trading strategy: bullish above 103.319, target 106.111, 107.787

Alternative strategy: bearish below 103.319, target 101.588, 99.671