Crude oil rose in the U.S. market.
Updated
The U.S. Department of Energy abandoned its original position and relaunched the Strategic Reserve Replenishment Program. Oil prices have been falling. However, the conflict in the Middle East has a greater impact on the fluctuation of oil prices. Once the conflict escalates further, the price of crude oil will exceed 100.
The short-term trend of crude oil was blocked from highs and fell. Oil prices fell below the moving average system, and the overall short momentum prevailed. The trend during the week is still within the wide upward channel. Pay attention to the supporting role of the lower edge of the channel on oil prices. It is expected that the Asian and European crude oil markets will fall during the day, and there is a high probability of stabilizing and rebounding in North America after the opening of the market.
Pay attention to the resistance level of 88.7-90.3 and the support level of 86.7-85.5
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Note
Crude oil correction continues, will rise after correctionNote
The lower edge of the 4H level channel was broken, and both the trend strength and the continuation line showed that the short momentum was dominant. It is expected that crude oil will continue to decline after a weak consolidation during the day. Waiting for correction to riseTrade active
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