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💡Message Strategy
WTI crude oil prices snapped a three-day winning streak and were trading around $66.00 a barrel in early European trading Thursday. Crude oil prices fell as rising U.S. crude inventories heightened concerns about weak demand in the United States, the world's largest oil consumer.
📊Technical aspects
From the daily chart level, crude oil fluctuates upward in the medium term and tests around 78. The K-line closes with a large real negative line, which has not yet destroyed the moving average system and is still supported. The medium-term objective upward trend remains unchanged.
However, from the perspective of momentum, the MACD indicator crosses downward above the zero axis, indicating that the bullish momentum is weakening. It is expected that the medium-term trend of crude oil will fall into a high-level oscillation pattern.
The short-term trend of crude oil (4H) fluctuated and consolidated for two trading days. The oil price repeatedly crossed the moving average system, and the objective trend direction fluctuated. From the perspective of the primary and secondary rhythms, the current rhythm is a secondary oscillation rhythm. According to the law of primary and secondary alternation, the subjective trend still maintains an upward direction. In terms of momentum, there are signs of weakening upward momentum, and it is expected that the crude oil trend will continue to be mainly upward.
💰Strategy Package
Long Position:65.50-66.00，SL：64.50，Target:69.00-70.00
💡Message Strategy
WTI crude oil prices snapped a three-day winning streak and were trading around $66.00 a barrel in early European trading Thursday. Crude oil prices fell as rising U.S. crude inventories heightened concerns about weak demand in the United States, the world's largest oil consumer.
📊Technical aspects
From the daily chart level, crude oil fluctuates upward in the medium term and tests around 78. The K-line closes with a large real negative line, which has not yet destroyed the moving average system and is still supported. The medium-term objective upward trend remains unchanged.
However, from the perspective of momentum, the MACD indicator crosses downward above the zero axis, indicating that the bullish momentum is weakening. It is expected that the medium-term trend of crude oil will fall into a high-level oscillation pattern.
The short-term trend of crude oil (4H) fluctuated and consolidated for two trading days. The oil price repeatedly crossed the moving average system, and the objective trend direction fluctuated. From the perspective of the primary and secondary rhythms, the current rhythm is a secondary oscillation rhythm. According to the law of primary and secondary alternation, the subjective trend still maintains an upward direction. In terms of momentum, there are signs of weakening upward momentum, and it is expected that the crude oil trend will continue to be mainly upward.
💰Strategy Package
Long Position:65.50-66.00，SL：64.50，Target:69.00-70.00
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Crude oil is low and long, don't chase the short easily
Through scientific and rigorous financial analysis and personalized strategy formulation, we help you achieve stable growth of wealth. At the same time, in a complex and changing economic environment, we help you avoid potential risks and protect the saf
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Through scientific and rigorous financial analysis and personalized strategy formulation, we help you achieve stable growth of wealth. At the same time, in a complex and changing economic environment, we help you avoid potential risks and protect the saf
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.