USOIL: 70-line long-short competition, today's analysis
Updated
Today is the weekend and the last trading day at the end of the month, and the volatile market will be relatively large in the future
But I predict that there is a high probability that oil prices will stabilize at $70 today
Analysis: At present, continue to pay attention to the middle track of the hourly line. As long as this position is not broken or the big Yin line is lost, the shock will continue to rebound. Channel guidance, the upper track can point to 71.4; next, pay attention to 70. I have not been able to stand on it effectively in the past few days. Is an opportunity to continue bullish; there is such a trend now
Let’s talk about the small probability event. The oil price stepped back on the 69 line and touched the bottom channel line. After adjustment, it is pulling up. Since today and Friday will be affected by a lot of unstable data, it is best not to save the crude oil position reduction operation until next week!
But I predict that there is a high probability that oil prices will stabilize at $70 today
Analysis: At present, continue to pay attention to the middle track of the hourly line. As long as this position is not broken or the big Yin line is lost, the shock will continue to rebound. Channel guidance, the upper track can point to 71.4; next, pay attention to 70. I have not been able to stand on it effectively in the past few days. Is an opportunity to continue bullish; there is such a trend now
Let’s talk about the small probability event. The oil price stepped back on the 69 line and touched the bottom channel line. After adjustment, it is pulling up. Since today and Friday will be affected by a lot of unstable data, it is best not to save the crude oil position reduction operation until next week!
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Crude oil’s daily line shows a bearish situation, and the 4-hour line is volatile. Pay attention to whether 71.5 can form a resistance within the day. If it cannot break through, the candle chart will always run below and you can look for opportunities to short. If it breaks, the target is 72.5
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