crude
Crude oil did not give a chance to go long yesterday. The market has been oscillating upwards to launch the final impact. When it was close to 78 in the early morning, short sellers began to enter the market. The short-term pressure has fallen back, indicating that the last stage of the rebound and upward movement has come to an end. Crude oil operation is recommended to sell at 78.05, risk control is 78.55, and the target is 76.50~75.40.
Bearish view on crude oil based on the following reasons:
1 The structure of crude oil's triple three waves has emerged, and the rebound has also been suppressed within the 50%-61.8% Fibonacci retracement area.
2 Based on my personal analysis, the downward trend of Wave Z3 in crude oil has not changed. The rebound of Sub-wave 2 may have ended last night, and it is now entering a new round of Sub-wave 3 decline.
3 Intraday resistance at 77.50-78.05, support at 76.30-75.40.
I hope you can discuss the daily market with me, I hope you can pay attention to me, I will insist on sending out personal suggestions every day, thank you
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.