12.17 Crude Oil Market Analysis and Trading Recommendations
On the daily chart, crude oil prices have broken through the previous support zone, and the candlestick chart continues to be under pressure below the short-term moving averages, maintaining a steady downward oscillation. In the short term, it is crucial to focus on whether the market will trigger a second decline after a slight rebound for repair; the rebound presents a window for high short positions.
On the hourly chart, after continuous oscillation and consolidation, the technical patterns have adjusted properly. The short-term moving averages are gradually turning upwards and showing a diverging trend, with initial release of short-term rebound momentum. It is expected that there is still some room for rebound, but the strength of the rebound is likely to be limited and will not change the overall downward trend.