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Crude oil analysis, today's long-short range is 81.2~78.2

International oil prices rose to a new high in more than 3-1/2 months yesterday, as API crude oil inventory data showed strong demand in the world's largest energy consumer, the United States, although demand concerns elsewhere limited gains. The latest data from the American Petroleum Institute (API) showed U.S. oil inventories fell by 15.4 million barrels in the week ended July 28, compared with analysts' expectations for a drop of 900,000 barrels. Official U.S. Energy Information Administration (EIA) data released on Wednesday matched that trend and will mark the biggest draw in U.S. crude inventories since 1982. Crude stockpiles elsewhere have also begun to decline as demand outstrips supply, while supply is constrained by sharp production cuts by Saudi Arabia, the de facto leader of the Organization of the Petroleum Exporting Countries (OPEC), supporting prices. Saudi Arabia is expected to extend its current voluntary output cut of 1 million barrels per day over the weekend for another month until September.

The daily level of crude oil rose unilaterally, and there is still a chance to go higher in the short term. Continue to pay attention to the resistance around the high point of 82.61 on January 23 and the high point of April 83.51. If the resistance around 83.51 is effectively broken, it is expected to open a new upward channel in the middle line , The midline target is expected to look around the 90 mark.

Crude oil operation strategy: rebound to 80.8-81.2 empty, stop loss 81.5., below the target 79.

Crude oil operation strategy: step back to 78.2-78.5 to do long, stop loss 77.8, target above 80.