The rise of crude oil bulls is unstoppable?
Updated
Because the banking crisis has temporarily eased, supply disruptions in northern Iraq have exacerbated supply tensions, and signs of increased demand from China have provided stronger support for oil prices.
Judging from the trend of crude oil, after yesterday's sharp rise in oil prices, it rebounded to above US 70, and the technical bullish signal was significantly strengthened.However, although the current oil price has returned to the range of the box, on the whole, the current price has basically touched the vicinity of the pressure zone of the box shock in the early stage, and it has also touched the pressure position of the channel in the short term.Oil prices are under pressure at the point of pressure, and the strength of today's rebound is not as strong, so the rebound that tends to be on the daily line in the short term may be almost gone, then the short-term trend may face a certain level of adjustment.On the other hand, after the last wave of the 4-hour-level trend rose, the price temporarily remained at a high level of narrow volatility. On the hourly-level trend, after a continuous narrow sideways movement, the technical pattern began to gradually weaken, so there may be a trend of spatial correction in the short term.
https://www.tradingview.com/x/aoPBJx9x/
Short-term trading reference: sell crude oil near 73.80, stop loss level 74.2, take profit level 73.1-73
In order to facilitate everyone to continue to follow up on my analysis and sharing, you can like and follow me; in addition, I will share the daily real-time strategy in the channel. If you can't follow up in real time, you may make operational errors.You can use the following methods to enter my channel for free to follow the latest news and follow up on market trends in real time.
Judging from the trend of crude oil, after yesterday's sharp rise in oil prices, it rebounded to above US 70, and the technical bullish signal was significantly strengthened.However, although the current oil price has returned to the range of the box, on the whole, the current price has basically touched the vicinity of the pressure zone of the box shock in the early stage, and it has also touched the pressure position of the channel in the short term.Oil prices are under pressure at the point of pressure, and the strength of today's rebound is not as strong, so the rebound that tends to be on the daily line in the short term may be almost gone, then the short-term trend may face a certain level of adjustment.On the other hand, after the last wave of the 4-hour-level trend rose, the price temporarily remained at a high level of narrow volatility. On the hourly-level trend, after a continuous narrow sideways movement, the technical pattern began to gradually weaken, so there may be a trend of spatial correction in the short term.
https://www.tradingview.com/x/aoPBJx9x/
Short-term trading reference: sell crude oil near 73.80, stop loss level 74.2, take profit level 73.1-73
In order to facilitate everyone to continue to follow up on my analysis and sharing, you can like and follow me; in addition, I will share the daily real-time strategy in the channel. If you can't follow up in real time, you may make operational errors.You can use the following methods to enter my channel for free to follow the latest news and follow up on market trends in real time.
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