Analysis of the latest crude oil market
Updated
On Friday in the Asian session, the 1-hour range of crude oil gradually closed, with the upper rail under pressure at 71.2 and the lower rail support at 69.7. The general direction of the rise and fall is unclear. Let's first look at the breakthrough of this small range and then decide on the follow-up. The support below is 69 and this week's low of 68.4. Only when it falls below 68.4 will it open up space downward. The bottom support is the lower rail of the daily line at 67.3 and the lower rail of the monthly line at 66.2. Only when it breaks through 71.2 upward will it refer to the suppression level of this week's high of 72.3. The resistance above is in the range of 73.2-73.8. Overall, the price of crude oil has not broken the range of shocks. Short-term trading can be done by buying high and selling low. In terms of direction selection, Liu Mingcheng personally prefers that the oil price is in the stage of gradually bottoming out, and there is an opportunity to try a long single band at a low level. Crude oil strategy: short when the rebound reaches 72-71.7, stop loss 72.5, target 70.3-69.7, hold if it breaks down; long when the retracement reaches 69-68.5 area, stop loss 68, target 70-71, hold if it breaks down;
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Crude oil can be shorted once near 72 on Monday, with the target at 71-70.5Trade active
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The market is fair. If you have the ability to analyze the market, you can make money. If you know nothing, you will definitely lose money. Although some people make some money in a short period of time by luck, luck will not always be there. If you want to make stable profits, you still need correct market analysis. If you don’t understand, you can come to me and I will help you.Trade active
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