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Market News May 19 US crude oil trading strategy: supply tightening concerns VS slowing demand concerns, long and short tug of war
May 19 US crude oil trading strategy: supply tightening concerns VS slowing demand concerns, long and short tug of war
Due to the sharp drop in U.S. stocks overnight, some institutions lowered their forecasts for U.S. economic growth, and even brought forward the risk of economic recession. The market was worried about the prospect of demand; but it has now turned around and rebounded to around 110.34, but because of the EU's upcoming ban on Russian crude oil imports, A further tightening of global supply is expected, temporarily overshadowing concerns about slowing economic growth. However, there is a short-term top signal on the technical side, and U.S. stock index futures are still volatile and falling, which may drag down oil prices, and investors need to be vigilant.
2022-05-19
9713
During the Asia-Europe session on Thursday (May 19), U.S. crude oil bottomed out and rebounded. Earlier, it fell below 107.59. As U.S. stocks fell sharply overnight, some institutions lowered their forecasts for U.S. economic growth and even advanced the risk of economic recession. Market worries Demand outlook; however, it has now reversed its losses and recovered to around 110.34, but the imminent EU ban on Russian crude oil imports is expected to further tighten global supplies, temporarily overshadowing concerns about slowing economic growth.
However, there is a short-term top signal on the technical side, and the U.S. stock index futures are still fluctuating and falling, which may drag down oil prices. Investors need to be vigilant and pay close attention to the performance of European and American stock markets during the day, and pay attention to the changes in the number of initial jobless claims in the United States and the data of the U.S. real estate market. Performance.
Daily level: shock; the MACD golden cross signal weakens, KDJ has a dead cross trend, and after the oil price fluctuates and rises, the "evening star" top signal appears near the high of more than a month and a half, but the early stage is not a unilateral upward market, and the validity of the signal is still uncertain. It is not very strong, and the short-term trend is more variable.
The initial support below is near the 10-day moving average at 108.16. If this support is lost, a short-term bearish signal will be added, and the strong support is near the 55-day moving average at 105.58. If it falls below this position, the mid-line bearish signal will be added.
The upper 5-day moving average resistance is near 111.39, pay attention to the resistance near the Bollinger line at 113.67, if it can break through this resistance, it will increase the bullish signal in the market outlook. nearby.
Resistance: 111.39; 113.67; 115.56; 116.64; 120.00;
Support: 108.16; 105.58; 102.66; 100.00;
Suggestions for short-term operations: wait and see; radicals are cautious about short-term rallies.
However, there is a short-term top signal on the technical side, and the U.S. stock index futures are still fluctuating and falling, which may drag down oil prices. Investors need to be vigilant and pay close attention to the performance of European and American stock markets during the day, and pay attention to the changes in the number of initial jobless claims in the United States and the data of the U.S. real estate market. Performance.
Daily level: shock; the MACD golden cross signal weakens, KDJ has a dead cross trend, and after the oil price fluctuates and rises, the "evening star" top signal appears near the high of more than a month and a half, but the early stage is not a unilateral upward market, and the validity of the signal is still uncertain. It is not very strong, and the short-term trend is more variable.
The initial support below is near the 10-day moving average at 108.16. If this support is lost, a short-term bearish signal will be added, and the strong support is near the 55-day moving average at 105.58. If it falls below this position, the mid-line bearish signal will be added.
The upper 5-day moving average resistance is near 111.39, pay attention to the resistance near the Bollinger line at 113.67, if it can break through this resistance, it will increase the bullish signal in the market outlook. nearby.
Resistance: 111.39; 113.67; 115.56; 116.64; 120.00;
Support: 108.16; 105.58; 102.66; 100.00;
Suggestions for short-term operations: wait and see; radicals are cautious about short-term rallies.
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