12month5Intraday strategy for US Japan crude oil futures

Futures marketgoldStrategy: External drivefutures｜12month5japan-us crude oilFutures intraday strategy analysis
Today's important financial data and events
18:00  eurozone10Monthly retail sales rate, Eurozone Q3 quarterly adjusted employment rate, Eurozone Q3GDPAnnual rate correction value
20:30  U.S.A11Monthly Challenger Enterprise layoffs(ten thousand people)
21:30  From the United States to11month30Number of initial claims for unemployment benefits in the current week(ten thousand people), USA10Monthly trade account(USD100mn)
23:00  U.S.A10Monthly factory order rate
23:30  From the United States to11month29Day and WeekEIANatural gas inventory(Billion cubic feet)
22:00  Section177The opening ceremony of the OPEC Congress was held, attended by all OPEC delegation leaders, delegates, OPEC Secretary General, observers, and media members
undetermined  Section177The OPEC Congress held a press conference

US crude oil news:Wednesday(12month4day)The oil price has seen its largest increase in over two months,WTI 1Monthly crude oil futures up2.33USD, increase4.15%Report58.43dollar/Barrel; Brent2Monthly crude oil futures up2.18USD, increase3.58%Report63.00dollar/Bucket. Due to a significant drop in US crude oil inventories last week and rising optimism over trade agreementsOPECAnd its allies are preparing to discuss the possibility of extending the production reduction agreement or even expanding the production reduction efforts.
The newly released schedule for the OPEC conference shows that the opening ceremony of the conference will take place tonight22:00Start. At the upcoming OPEC conference, the implementation rate of production cuts will become a major focus of attention. Ship tracking agencyKplerIt is pointed out that since the agreement was reached last year,11Only in this country5Oil production has decreased in several countries, with the United Arab Emirates, Iraq, Nigeria, Gabon, Congo, and Ecuador all producing above average levels.
OPEC member countries' demand for further production cuts continues to increase, and if there are further cuts4010000 barrels/On a daily basis, the reduction in production will increase to16010000 barrels/A higher implementation rate of production cuts will further boost market sentiment. If the production reduction agreement is extended6Months to2020In the second half of the year, the oil market situation will become clearer.
Technical aspects of US crude oil:Looking at the daily crude oil market, the Bollinger Bands are moving upwards on the third track,MA5/MA10The moving average shows a dead cross and flattens,KThe line intersects between the upper tracks in Bolin,MACDThe fast slow line shows a dead fork with a green kinetic energy contraction,KDJThe three line golden cross is diverging upwards, and the overall daily market trend shows a strong pattern;4On the hourly chart, the Bollinger Bands open upwards,MA5On the moving averageMA10The moving average crosses the golden cross and rises strongly,KThe line intersects between the upper and middle tracks in BolinMA5Near the moving average,MACDCross the fast and slow lines and wear on the golden cross0The kinetic energy of the red axis has significantly increased,KDJThe third line shows a golden cross with a gentle closing. The short-term oil price trend is relatively strong, and there is a certain risk of falling back after the overnight surge.
Overall, for intraday operations, it is recommended to mainly focus on a pullback and a bullish trend, with initial resistance above58.70Nearby, the resistance in the next step is59.30； Preliminary support below57.40Nearby, further support is provided56.90。
US crude oil（01Contract trading strategy
1Above59.3-59.4Short term short selling, stop loss0.3, Objective58.5Nearby;
2Below57.4-57.5Long nearby, stop loss0.5, Objective58.7/59.3Nearby;
Reading instructions: Investment carries risks, and trading requires caution. This analysis is provided by the Futures Gold Strategy and is for reference only. It is not intended as the final basis for placing orders.

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