USOil:When it rebounds to the resistance, continue go shortIn terms of crude oil, in the short term, with the decline in US crude oil inventories, the escalation of US sanctions against Iran and Venezuela, and the resumption of hostilities between Russia and Ukraine, efforts at reconciliation have been ineffective. Therefore, the short-term market has hyped up the reduction in crude oil supply, causing crude oil to fluctuate repeatedly at high levels without being able to decline. However, as tariffs are upgraded and concerns about the global economic downturn intensify, the demand for crude oil has further decreased. At the same time, in order to control inflation, the control of crude oil prices remains a top priority.
Therefore, the medium- to long-term downward trend remains unchanged. Currently, from a technical perspective, when crude oil rebounds to the resistance level, it is advisable to continue taking short positions as before.
USOIL Trading Strategy:
Sell@69.7-70
TP:68.5-68
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