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Market News November 12th U.S. crude oil trading strategy: short-term weak, activists go short

November 12th U.S. crude oil trading strategy: short-term weak, activists go short

On November 12, US crude oil fell slightly, and the short-term oil price trend was weak, but there is also a chance to resume the upward trend at any time. It is recommended that conservatives wait and see, and radicals can try to short short positions.

2021-11-12
8982
On Friday (November 12), US crude oil fell slightly, and the short-term oil price trend was weak, but there is also a chance to resume the rise at any time. It is recommended that conservatives wait and see, and activists can try to short short positions.


Daily level: U.S. crude oil closed the cross star on Thursday, indicating that the long-short game has reached a deadlock. During the Asian period, oil prices declined slightly, and the short-term still seems to be weak.

From a mid-line perspective, oil prices are currently at a high level of volatility, and long and short emotions are frequently switched. It is difficult to operate. Conservatives can wait and see for the time being, and activists can try to go short.

Once it breaks below yesterday's low of 80.20, investors can consider chasing short positions. The next support will focus on the November 4 low of 78.25 and the July 6 high of 76.98.

However, the market's sentiment for rising oil prices is still strong, and oil prices may restart their upward trend at any time.

The initial resistance above focuses on yesterday's high of 82.33, and further attention to the high of 84.97 on November 10 and the high of 85.41 on October 25.

(U.S. crude oil daily chart)

Resistance levels: 82.33; 84.97; 85.41
Support levels: 80.20; 78.25; 76.98

Short-term operation suggestions: conservatives wait and see, radicals go short.

At 15:06 GMT+8, U.S. crude oil was quoted at US$80.93 per ounce.
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