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Germanys DAX30 index opened up 35.68 points, or 0.15%, at 23,833.80 points on July 7 (Monday); Britains FTSE 100 index opened down 10.46 points, or 0.12%, at 8,812.45 points on July 7 (Monday); Europes STOXX 50 index opened up 8.49 points, or 0.16%, at 5,297.30 points on July 7 (Monday); Spains IBEX35 index opened down 17.56 points, or 0.13%, at 13,949.54 points on July 7 (Monday); Italys FTSE MIB index opened down 3.11 points, or 0.01%, at 39,619.00 points on July 7 (Monday); Frances CAC40 index opened up 5.02 points, or 0.07%, at 7,701.29 points on July 7 (Monday).Switzerlands foreign exchange reserves in June were 712.996 billion Swiss francs, revised from 703.6 billion Swiss francs to 703.598 billion Swiss francs.July 7 news, from January to June 2025, the arithmetic average of the price reduction of new energy vehicles reached 23,000 yuan, and the price reduction reached 12%. In June, the arithmetic average of the price reduction of new energy vehicles reached 15,000 yuan, and the price reduction reached a low level of 10.4%. From January to June 2025, the arithmetic average of the price reduction of new conventional fuel vehicles reached 17,000 yuan, and the price reduction reached 8.9%. In June, the arithmetic average of the price reduction of new conventional fuel vehicles reached 14,000 yuan, and the price reduction reached 8.6%. From January to June 2025, the arithmetic average of the price reduction of new cars in the overall passenger car market reached 21,000 yuan, and the price reduction reached 11.4%. In June, the arithmetic average of the price reduction of new cars in the overall passenger car market reached 15,000 yuan, and the price reduction reached 9.9%.July 7th news: On the morning of July 6th local time, the two-day 17th BRICS Leaders Meeting opened in Rio de Janeiro, Brazil. The meeting was themed "Strengthening Global South Cooperation and Promoting More Inclusive and Sustainable Global Governance" and focused on six major topics, covering key areas such as global health, trade, investment and development financing, addressing climate change, artificial intelligence governance, reform of the global security architecture, and the construction of the BRICS mechanism itself.Yen: 1. Fitch: Without a significant reduction in auto tariffs, it will be difficult for Japan and the United States to reach a trade agreement. 2. Moodys: Still believes that the Bank of Japan will continue to raise interest rates, but weak wage data puts it in a difficult position. Australian dollar: 1. ING: The continued slowdown in inflation has opened a window for the Reserve Bank of Australia to cut interest rates. 2. Analysts: Strong Australian employment data has sounded the alarm for the doves of the Reserve Bank of Australia. Others: 1. Indonesias foreign exchange reserves rose to US$152.6 billion at the end of June. 2. Thailands consumer price index fell more than expected in June. 3. Putin called for the expansion of local currency settlement and proposed the creation of a new BRICS investment platform. 4. Economist: The Reserve Bank of New Zealand will "pause its dovish stance" this week to leave a buffer for assessing the economy.

October 11 U.S. crude oil trading strategy: oil prices rose unilaterally, it is recommended to continue to do more on dips

Oct 26, 2021 11:01

On Monday (October 11), U.S. crude oil rose to a new high in nearly seven years. Short-term oil prices are still quite strong. Investors are advised to continue to buy more on dips.


Daily level: U.S. crude oil continues to maintain its strength in the short-term, and the energy crisis continues to expand, which boosted oil prices.

From a technical point of view, oil prices have risen strongly unilaterally, with long moving averages, and RSI has overbought signals, but it still cannot stop the crazy buying in the market.

At the same time, OPEC+ continues to increase production slightly, which is bound to increase the gap between oil supply and demand. Investors are advised to continue to do more on dips.

At the top, focus on the pressure of each integer mark, and at the bottom, focus on the 5-day moving average of 79.06 for preliminary support, and further focus on the 10-day moving average of 77.29 and the July 13 high of 75.51.

(U.S. crude oil daily chart)

Resistance levels: 82.00; 83.00; 84.00
Support levels: 79.06; 77.29; 75.51

Short-term operation advice: do more on dips.

At 14:23 GMT+8, U.S. crude oil was quoted at US$80.68 per barrel.