November 25 us crude oil trading strategy: oil prices temporarily traded sideways

Individual Nov 25, 2021 06:38:02 GMT
Leads´╝ÜNovember 25, the United States crude oil almost steady, short-term oil prices are mainly sideways shock, volatility is limited, investors are advised to wait and see.
U.S. crude oil was almost steady on Thursday (Nov. 25), with short-term oil prices mainly trading sideways with limited volatility, suggesting investors wait and see. Daily level: Oil prices edged lower on Wednesday and traded sideways in Asia on Thursday, with opportunities on both sides. With oil price volatility likely to be limited during the Thanksgiving holiday, the market is most focused on OPEC+ 's response to Biden's release next week. It will be interesting to see how big oil producers Saudi Arabia and Russia are reportedly considering suspending production, while the United Arab Emirates and Kuwait see no need for a halt. Investors are advised to wait and see, waiting for further fermentation of fundamental news. The 20-day moving average of 80.29 is watched above, with further focus on Oct. 11 high of 82.18 and Nov. 4 high of 83.42. The 5-day moving average of 77.48 is watched below, followed by the Nov 18 low of 76.44 and the Nov 22 low of 74.76. (US crude daily chart) Resistance level: 80.29; 82.18; 83.42 Support level: 77.48; 76.44; 74.76 Short - term operation suggestion: wait and see. U.S. crude was at $78.37 / BBL at 14:35 Beijing time.

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