From the daily chart perspective, crude oil is currently in a secondary consolidation pattern, with candlesticks repeatedly testing the support around the previous low of 56. The MACD indicator is hovering below the zero line, indicating that the bearish momentum has weakened, but the overall trend remains weak. If the key support at 56 is broken, the medium-term trend may turn downward.
The 1-hour short-term cycle shows that the oil price is consolidating within the 56.80-58.10 range, fluctuating around the moving averages. The MACD is below the zero line, with bearish dominance still present but with limited strength. It is expected that the price will continue to trade within this range today, with resistance around 58.10 being more significant.
Today’s Trading Strategy
Recommend short positions near 57.90, with a stop at 58.40, and target 56.90!
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12.15 Monday Crude Oil Outlook Analysis
From the daily chart perspective, crude oil is currently in a secondary consolidation pattern, with candlesticks repeatedly testing the support around the previous low of 56. The MACD indicator is hovering below the zero line, indicating that the bearish momentum has weakened, but the overall trend remains weak. If the key support at 56 is broken, the medium-term trend may turn downward.
The 1-hour short-term cycle shows that the oil price is consolidating within the 56.80-58.10 range, fluctuating around the moving averages. The MACD is below the zero line, with bearish dominance still present but with limited strength. It is expected that the price will continue to trade within this range today, with resistance around 58.10 being more significant.
Today’s Trading Strategy
Recommend short positions near 57.90, with a stop at 58.40, and target 56.90!