[서울경제TV 해외선물 No.1] Chart Man Trader March 5 Overseas Futures Market Status
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[서울경제TV ‘해외선물 NO.1’ 퓨처온 소속의 아토 트레이더]
The OPEC+ meeting held on March 4 ended. OPEC+ also agreed to allow only production increase in Russia (130,000 bps) and Kazakhstan (20,000 bps), but maintain production cuts in other oil producing countries until the end of April. It has also been extended to Saudi Arabia’s voluntary production cuts (1 million bps). The partner countries decided to re-evaluate the supply and demand situation at the next meeting (4/1). Oil prices (WTI standards) rose more than +4% compared to the previous day due to unexpected measures by OPEC+ following Yemen’s Huti rebels’ attack on Aramco’s oil storage facility on the same day.
[2021년 3월 5일 Crude Oil 선물지수 전략]
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[2021년 3월 5일 Crude Oil 선물지수 일봉 차트]
Looking at the chart, the recent downside was shown due to uncertainties in Saudi Arabia’s April production increase issue. Since then, through the OPEC+ meeting held on March 4, the company dismissed production cuts until April, and oil prices expanded to increase in the news, but we believe that there is room for upside until the mid-to-late 60 dollars. Therefore, it seems most advantageous to take a buy strategy around $63.50, assuming a technical adjustment is coming.
The chart man trader of Futureon is currently appearing on Seoul Economic Daily 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 be careful with your investment.
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