$CL October 29 Afternoon Crude Oil Outlook
Overnight, crude oil staged a rebound after hitting a low. After meeting resistance at a high of 103.51, prices came under sustained pressure and moved lower, dipping to around 100.92 intraday, where they found solid support and stabilized. Bulls are now mounting a comeback, with prices rebounding amid volatility to around 101.94.
On the four-hour chart, crude oil did not undergo a deep correction after rising to the 102 level. Instead, it has remained relatively high and moved sideways within a range, while the overall upward structure remains clear. The current consolidation looks more like bulls absorbing overhead pressure through repeated back-and-forth moves, using time to create room for further gains. Bulls remain firmly in control of the market's momentum. The more thoroughly prices consolidate, the greater the potential for the next move higher. For trading, follow the trend and look to build positions on dips near the lower boundary of the range. Wait patiently for the market to gather strength and break higher, maintaining a bullish outlook.
Crude oil: Go long near 99.00, targeting above 103.
#股票财报季
Overnight, crude oil staged a rebound after hitting a low. After meeting resistance at a high of 103.51, prices came under sustained pressure and moved lower, dipping to around 100.92 intraday, where they found solid support and stabilized. Bulls are now mounting a comeback, with prices rebounding amid volatility to around 101.94.
On the four-hour chart, crude oil did not undergo a deep correction after rising to the 102 level. Instead, it has remained relatively high and moved sideways within a range, while the overall upward structure remains clear. The current consolidation looks more like bulls absorbing overhead pressure through repeated back-and-forth moves, using time to create room for further gains. Bulls remain firmly in control of the market's momentum. The more thoroughly prices consolidate, the greater the potential for the next move higher. For trading, follow the trend and look to build positions on dips near the lower boundary of the range. Wait patiently for the market to gather strength and break higher, maintaining a bullish outlook.
Crude oil: Go long near 99.00, targeting above 103.
#股票财报季
