Oil distribution: rapid withdrawal

The oil distribution remained volatile around 112.032. EIA report: except for the strategic reserve, the commercial crude oil inventory decreased by 2.762 million barrels to 415.6 million barrels, a decrease of 0.7%. The average four week supply of crude oil products in the United States was 1995.57 million barrels per day, a decrease of 0.1% over the same period last year.

According to the 4-hour chart: the bull power is in the upper rail section of the Bollinger belt index channel, which continues to vibrate in a wide range. The short power is waiting for the opportunity to enter, falling rapidly. After touching the nodes near the lower rail of the Bollinger belt index, the Bollinger belt index is in a closing trend, the mafcd index is hovering on the upper side of the 0 axis, and the RSI index is in a weak shock near the 50 equilibrium line;

Multi empty turning point: 112.567

Pressing position: 113.928, 114.994

Support position: 110.753, 109.652

Trading strategy: bearish below 112.567, target 110.753, 109.652

Alternative strategy: bullish above 112.567, target 113.928, 114.994