Crude oil trade analysis

٢٨ نوفمبر ٢٠٢٣

WTI crude oil showed a roller coaster trend. It fell to an intraday low of $74.03 during the European trading session, then recovered all losses, and rose to an intraday high of $76.18 in the US market. It finally closed down 0.19% at $74.99 per barrel. ; Brent crude oil once fell below the $80 mark during the session, and then fluctuated around this mark, finally closing down 0.14% at $79.99 per barrel.
Crude oil opened lower and fluctuated today, stabilizing at the 74.9 line. The daily chart shows that yesterday it fell first and then rose. The daily line included a negative cross star pattern with long upper and lower negative lines. Recently, oil prices have been fluctuating in the upper shadow line in the 74.0 area, further indicating that this level has reached a certain level of support. position, but it is difficult to open up the situation without breaking through the upper resistance level.
In the crude oil shock triangle, today's operation considers rebound short selling as the main strategy, and low and long strategies as the supplement. The top focus is on the resistance of 76.5-77.1 US dollars per barrel, and the bottom focus is on the support of 73.5-72.3 US dollars.