11.5 Luo Yi’s Crude Oil Evening Outlook 🔥
The market has shifted from its previous weakness and staged a strong rebound. The current price is 89.58, climbing steadily from the low of 86.65. In the short term, prices have continued to rise along the moving averages, with bullish momentum clearly building. However, strong resistance lies around 89.84. After pushing higher, prices have pulled back slightly—a brief pause during the uptrend, not necessarily a reversal to the downside. Renewed risk aversion is supporting oil prices, but after the sustained rally, there is also a risk of profit-taking. Expect choppy trading at elevated levels this evening; avoid blindly chasing long positions.
Trading plan: If prices pull back to 88.8–89.2 and stabilize, consider entering short-term long positions, with a stop at 88.2. The first target is 89.8–90.2; if prices hold above that level, look toward 91.0. If prices test 89.84 and repeatedly fail to break through, consider a small short position, with a stop at 90.5 and a target of 88.5. $XAU #XAU
The market has shifted from its previous weakness and staged a strong rebound. The current price is 89.58, climbing steadily from the low of 86.65. In the short term, prices have continued to rise along the moving averages, with bullish momentum clearly building. However, strong resistance lies around 89.84. After pushing higher, prices have pulled back slightly—a brief pause during the uptrend, not necessarily a reversal to the downside. Renewed risk aversion is supporting oil prices, but after the sustained rally, there is also a risk of profit-taking. Expect choppy trading at elevated levels this evening; avoid blindly chasing long positions.
Trading plan: If prices pull back to 88.8–89.2 and stabilize, consider entering short-term long positions, with a stop at 88.2. The first target is 89.8–90.2; if prices hold above that level, look toward 91.0. If prices test 89.84 and repeatedly fail to break through, consider a small short position, with a stop at 90.5 and a target of 88.5. $XAU #XAU
