[서울경제TV 해외선물 No.1] Ato Trader March 3 Overseas Futures Market Status

[서울경제TV 해외선물 No.1] Ato Trader March 3 Overseas Futures Market Status

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[서울경제TV ‘해외선물 NO.1’ 퓨처온 소속의 아토 트레이더]

WTI (April) paid $60 a day ahead of the OPEC+ meeting due to concerns about production increase.

On the previous day, WTI was adjusted to the second half of $50 after reports that OPEC+ is preparing to increase production. Saudi Arabia’s’surprise’ further cuts (1 million bps), which have been strongly supporting oil prices, are officially scheduled only until March, so it is unclear whether or not to extend the April extension, oil prices, up 20% compared to the beginning of the year, and expectations for vaccines and improvement. OPEC+ countries’ desire to increase production is inevitable due to demand for crude oil, which is inevitable.

The market is also expected to increase production to some extent, taking into account the rise in oil prices until recently, but the most worrisome is when they agree to increase production to the maximum limit of 500,000 bps for the OPEC+ meeting with Saudi Arabia’s additional cuts of 1 million bps.

[2021년 3월 3일 Crude oil 선물지수 전략]

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[2021년 3월 3일 Crude oil 선물 지수 240 분봉]

The OPEC + regular meeting, which can be seen as a big event in the oil price market, begins today.

Oil prices have lowered the price range to about $60 before the meeting, reflecting the expectations of preparing for production increase at the OPEC+ meeting to some extent.

However, what the market is most looking forward to is focusing on whether or not to extend Saudi Arabia’s voluntary production cuts in April, which has been the main cause of the steep rise in oil prices so far. This is because if further extensions are not made, there is a high possibility that momentum will be formed to return the gains to date.

At the OPEC+ regular meeting, if Saudi Arabia’s voluntary reduction of production is not extended along with production increase, the level of oil prices will drop to the low of $50.

As there are big events that can determine the direction of the oil price market, it is appropriate to respond to the pipe network rather than aggressive trading until today’s meeting.

Ato Trader, a member of FutureOn, is currently appearing on Seoul Economic TV.

His overseas futures investment strategy can be seen through the live broadcast of’Overseas Futures No. 1’every night from 23:00 to 24:00.

*The content of this article is an expert’s personal analysis. Please pay attention to investment

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