oil bottomed out yesterday and failed to continue the short-term trend, indicating that the short-term adjustment has ended, and the bulls in the market are about to move again. The early decline is close to half. It is also possible to become a new starting point for the bulls. The gains and losses of 72.20 are mainly seen in the future.For crude oil operations, it is recommended to buy at 70.55, the risk is controlled at 70.05, and the target is 71.70~72.20.
The chart is a 4H chart of oil
Crude oil is bullish for the following reasons
1. The daily closing of crude oil has a bottoming pattern, so I am optimistic about the bulls today.
2. According to the update of the wave trading system, the second rebound of Wave B and c is already on the way, and the current adjustment of the secondary level may end.
3. The intraday pressure is 71.70~72.20, and the support is 70.55~70.20.
The chart is a 4H chart of oil
Crude oil is bullish for the following reasons
1. The daily closing of crude oil has a bottoming pattern, so I am optimistic about the bulls today.
2. According to the update of the wave trading system, the second rebound of Wave B and c is already on the way, and the current adjustment of the secondary level may end.
3. The intraday pressure is 71.70~72.20, and the support is 70.55~70.20.
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