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Market News U.S. crude oil trading strategy on May 30: Worrying about the oil ban, demand has improved simultaneously, and bulls want to chase after victory
U.S. crude oil trading strategy on May 30: Worrying about the oil ban, demand has improved simultaneously, and bulls want to chase after victory
The European Union will meet on Monday and Tuesday to discuss a sixth round of sanctions against Russia's invasion of Ukraine, as traders wait to see if the bloc can reach a deal to ban Russian oil, speculators are preparing for a rebound in oil markets after the EU summit To prepare, the market supply is expected to heat up; and the US stock market rebounded sharply last week, suggesting that the market's expectations for the economic outlook have improved. It coincides with the peak holiday travel period in the United States, demand is also picking up, and oil prices have gained some upward momentum.
2022-05-30
10805
During the Asia-Europe session on Monday (May 30), U.S. crude oil rose in shock, hitting a new high of $116.39 per barrel in nearly two months. The European Union will hold meetings on Monday and Tuesday to discuss the sixth round of sanctions against Russia's invasion of Ukraine. As traders wait to see if the EU can reach a deal to ban Russian oil, speculators are bracing for a rebound in the oil market after the EU summit, with supply expectations heating up; and a sharp rebound in U.S. stocks last week suggested that the market is Expectations for the economic outlook have improved, which coincides with the peak holiday travel period in the U.S. and demand is picking up, and oil prices have gained some upward momentum.
However, Monday coincides with the US Memorial Day holiday, and the US stock market, bond market, federal government offices and the Federal Reserve will be closed on Monday, and market trading may be limited on Monday. Relatively, the overall market outlook tends to fluctuate upwards.
Daily level: volatile rise; KDJ golden fork, MACD diverges slightly upwards, Bollinger Bands track upwards, the moving average is close to a long arrangement, and the market outlook tends to rise in shock; the initial resistance is near the high point of 116.64 at the end of March, if it can break through the resistance , it is expected to open a new round of rising channels, further resistance is near the 120 integer mark, the resistance at the high point on March 9 is near 126.84, and then the high point on March 7 is near 130.50.
However, before breaking 116.64, you still need to beware of short counterattacks. The 5-day moving average below is supported around 113.18, the 10-day moving average is supported near 112.14, and the strong support is near the 21-day moving average at 109.28. If it falls below this position unexpectedly, it will increase Market outlook bearish signal.
Resistance: 120.00; 126.84; 130.50;
Support: 113.18; 112.14; 109.28;
Suggestions for short-term operations: conservatives wait and see; radicals are cautious and go long on dips, and they are cautious to chase up when they are broken.
However, Monday coincides with the US Memorial Day holiday, and the US stock market, bond market, federal government offices and the Federal Reserve will be closed on Monday, and market trading may be limited on Monday. Relatively, the overall market outlook tends to fluctuate upwards.
Daily level: volatile rise; KDJ golden fork, MACD diverges slightly upwards, Bollinger Bands track upwards, the moving average is close to a long arrangement, and the market outlook tends to rise in shock; the initial resistance is near the high point of 116.64 at the end of March, if it can break through the resistance , it is expected to open a new round of rising channels, further resistance is near the 120 integer mark, the resistance at the high point on March 9 is near 126.84, and then the high point on March 7 is near 130.50.
However, before breaking 116.64, you still need to beware of short counterattacks. The 5-day moving average below is supported around 113.18, the 10-day moving average is supported near 112.14, and the strong support is near the 21-day moving average at 109.28. If it falls below this position unexpectedly, it will increase Market outlook bearish signal.
Resistance: 120.00; 126.84; 130.50;
Support: 113.18; 112.14; 109.28;
Suggestions for short-term operations: conservatives wait and see; radicals are cautious and go long on dips, and they are cautious to chase up when they are broken.
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