Vietnam Insight

Crude oil rises again on cold weather forecasts. WTI crude oil futures rose above $71 per barrel in thin holiday trading, nearing a seven-week high, as traders focused on upcoming US and China economic data to gauge demand in the world’s top oil consumers. The US stock indices fluctuated throughout the session, with the Dow Jones at one point losing more than 700 points. According to analysts, there was no specific reason behind this decline, and trading volume on U.S. stock exchanges fell to low levels as many traders were on holiday.

Liquidity declines – Many sectors lose momentum. The VN-Index closed at 1,272.02 (-3.12 points, -0.09%) with lower liquidity compared to the average of the past 20 sessions. Most industry groups declined, while the banking group and blue-chip stocks attempted to balance the market. Foreign investors were net buyers of 351 billion VND. the VN-Index is returning to the 1280-point resistance level, with buying pressure still considered stable. In a positive scenario, the market needs stronger buying pressure to be able to return to the 1300 resistance level.

Trading Strategy: Investors are closely monitoring the index's reaction near the resistance levels of 1,280 - 1,300, as this is a zone with high selling pressure. Even if the index manages to surpass this level, a minor correction is entirely possible. Therefore, it is recommended to be cautious with buying at this time and wait for clearer confirmation signals