CITIC Construction Investment: Q3 pulse market of crude oil under the Middle East situation follow

Jinshi Data News, July 30th, CITIC Construction Investment research report pointed out that the three major U.S. stock indexes have entered a period of adjustment recently, with a switch in the style of large and small caps. However, it is expected that they will eventually enter a resonant downturn mode, and it is recommended to reduce positions at high levels. In the short term, before new catalysts emerge, it is expected that the gold price will continue to oscillate at a high level of $2300 to $2400. Oil prices have fallen under the Trump trade, but compared to the previous Trump administration, the current situation in the Middle East is more uncertain. We continue to emphasize the options value of short-term oil supply in Middle East conflict events. The current position of oil prices has limited downside potential, and the third quarter will follow the pulse of events related to the Middle East situation.