Short-term-king

Has crude oil stopped its decline?Can we buy crude oil?

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Short-term-king 已更新   
TVC:USOIL   WTI 原油差價合約
Because of market concerns about the recession, the demand for crude oil has been hit to a large extent. Then the acceptable price of crude oil in the cycle of slow economic development is in the 70-65 area. People familiar with the crude oil market must know that crude oil basically fluctuated in the 70-82 area in the early stage. Judging from this, crude oil still has room to continue to fall.

Judging from the current crude oil trend structure, crude oil has fallen sharply and broken below the flag-shaped consolidation structure, and the bearish trend is obvious. Although the current downward trend has paused, there is no signal to stop the decline completely, and the rebound here is extremely weak, so the pause here may be to build a downward relay structure.

In addition, in the ultra-short-term structure, crude oil has repeatedly tested the support near 74 without breaking below, so in the case of a short-term plunge in crude oil, there is a need for technical upward repair.And there is 50% support for Fibonacci below the short-term, so crude oil may also use this to launch a small-level rebound.Therefore, pay special attention to the defensive situation near 74 in the short term.

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Crude oil mainly focuses on pressure around 75
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