Judging from yesterday’s WTI crude oil price action rhythm and its recent performance, it is still operating in a disorderly, patternless manner right now—fully driven by the news flow. This means there remains a high degree of uncertainty and risk in short-term price action.
That said, yesterday’s trading closed with a long bearish candle, nearly giving back the rebound range from the previous two weeks. With such a strong pullback, the technical trend has also been altered. In the intraday outlook, price may face strong resistance around 82.7–83.3. During the move, 81.8–82 is also expected to act as a restriction zone. On the downside, first look for consolidation around 79. If price breaks below, it could tear open the downtrend further, and then price may test consolidation around 78.
In terms of trading, the main intraday idea for WTI is that the market is digesting news related to the situation between the U.S. and Iran, leading to relatively weak, sideways-to-choppy movement. For aggressive traders, you can try a short setup on rebounds around 81.2–81.5. For conservative traders, it’s better to wait for shorts near 81.8–82. On the downside, focus especially on the battle around 79. A brief spike/piercing move is allowed. However, as market sentiment is currently overwhelmingly tilted bearish, short-term long participation is not considered at this time. #原油
That said, yesterday’s trading closed with a long bearish candle, nearly giving back the rebound range from the previous two weeks. With such a strong pullback, the technical trend has also been altered. In the intraday outlook, price may face strong resistance around 82.7–83.3. During the move, 81.8–82 is also expected to act as a restriction zone. On the downside, first look for consolidation around 79. If price breaks below, it could tear open the downtrend further, and then price may test consolidation around 78.
In terms of trading, the main intraday idea for WTI is that the market is digesting news related to the situation between the U.S. and Iran, leading to relatively weak, sideways-to-choppy movement. For aggressive traders, you can try a short setup on rebounds around 81.2–81.5. For conservative traders, it’s better to wait for shorts near 81.8–82. On the downside, focus especially on the battle around 79. A brief spike/piercing move is allowed. However, as market sentiment is currently overwhelmingly tilted bearish, short-term long participation is not considered at this time. #原油
