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On July 30th, Federal Reserve Chairman Warsh stated that since the June meeting, financial markets have already priced in most of the effects of the Feds tightening policy, therefore he does not agree with describing the decision to maintain interest rates as a "pause." Warsh said, "I wouldnt call todays decision a pause in any sense. If you have to label it a pause, then the performance of the financial markets shows the opposite." Since the Feds mid-June policy meeting, the yields on both 2-year and 10-year U.S. Treasury bonds have risen by approximately 20 basis points. Warsh pointed out that during this period, financial markets did not "pause" their adjustments, but rather continuously repriced based on inflation data and economic growth performance: on the one hand, inflation data influenced market expectations; on the other hand, strong economic growth pushed both nominal and real interest rates higher. He stated, "Today, the Fed did not explicitly adjust the policy rate, thats true. But I think this is just the beginning of the whole policy story, not the end."Canadas Minister for Trade to the United States said he held comprehensive talks with U.S. Trade Representative Greer, and both sides agreed to maintain close contact.On July 30th, Federal Reserve Chairman Warsh told reporters that he does not believe there is a general "conflict" between the central banks dual mandate—maximum employment and price stability. "My judgment is that when we fulfill our mandate, we will achieve both goals simultaneously," Warsh said, adding that there is no either-or choice regarding inflation and employment. "Neither part of our mission has been forgotten," he said, noting that what is truly damaging the markets is the problem of high and volatile inflation.US President Trump: Federal Reserve Chairman Warsh has a council, and its a political council. Warsh wants to see lower interest rates.US President Trump: Federal Reserve Chairman Warsh is excellent.

U.S. crude oil trading strategy on October 7: the long pattern of oil prices remains unchanged, pay attention to the 10-day moving average support

Oct 26, 2021 10:59

US crude oil fell slightly on Thursday (October 7). After Wednesday's high level fell, oil prices may continue to fall within the day, but the trend is still upward. It is recommended that activists rely on the 10-day moving average to do more, and conservatives wait and see.


Daily level: Oil prices fell from their highs on Wednesday, but the bullish pattern has not changed.

Technically, the MACD is still a golden cross, but the red column has shortened, and the upward momentum has slightly weakened, but the trend is still up. RSI has fallen sharply from the overbought range, creating conditions for oil prices to continue to rise.

If oil prices fall in the day, pay attention to the 10-day moving average support of 75.99. At this level, the bulls are expected to counterattack. It is recommended that activists rely on the 10-day moving average to do more. Further down, we need to pay attention to the high of 74.23 on July 30 and the low of 73.73 on the 20th.

On the upside, we need to pay attention to the pressure of each round mark and yesterday's high of 79.78.

(U.S. crude oil daily chart)

Resistance levels: 78.00; 79.00; 79.78
Support levels: 75.99; 74.23; 73.73

Short-term operation recommendations: activists rely on the 10-day moving average to do more.

At 14:11 GMT+8, US crude oil was quoted at US$76.99 per barrel.

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