continue bearish after oil rebounded
Updated
Crude oil is currently rebounding and rising after stepping back to the previous low support during the day. Due to the large early decline, the change in market direction also requires relative time adjustment, so the short-term trend will continue to follow up and maintain high bearishness in the evening.For crude oil operations, it is recommended to sell at 78.25, with a stop loss of 78.70, and a target of 77.0~76.20.
The chart is a 4H chart of crude oil
Crude oil is bearish for the following reasons:
1. Although the daily crude oil line rebounded and closed positive, it was only a downward trend.
2. According to the update of the Turing wave trading system, the five-wave push of Wave B a has appeared, and it has now entered the mid-term adjustment wave of Wave B, and there may be a three-wave state downwards. At present, the first wave of decline is nearing its end.
3. The intraday pressure is 78.25~78.70, and the support is 77.0~76.20.
The chart is a 4H chart of crude oil
Crude oil is bearish for the following reasons:
1. Although the daily crude oil line rebounded and closed positive, it was only a downward trend.
2. According to the update of the Turing wave trading system, the five-wave push of Wave B a has appeared, and it has now entered the mid-term adjustment wave of Wave B, and there may be a three-wave state downwards. At present, the first wave of decline is nearing its end.
3. The intraday pressure is 78.25~78.70, and the support is 77.0~76.20.
Note
Normal fluctuationNote
Will rebound after the callbackNote
If you don't know what to do, you can directly click on the link below for one-on-one guidance.Note
Continue to fall, ready to catch the rebound pointNote
The specific trading signals of crude oil are already given on the free channel, you can enter to get itNote
Crude oil has come to the first support position as expected. Are you ready for EIA today?
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.