Crude Oil Evening Review: Brent Oil 61.7 Threshold Fluctuation, Bullish Layout Steady Under Moving Average Support

Brent crude oil is engaged in a tug-of-war around the 61.70 threshold, with intraday fluctuations and upward movement: after a morning peak of 61.30, it slightly retreated, and in the evening, bulls attacked again to 61.75, currently still in a bullish trend.

Macroeconomic factors are interwoven: the US dollar is weakly fluctuating around 98.4, the US November core CPI fell to 2.6%, raising expectations for interest rate cuts, and geopolitical risks in the Middle East provide safe-haven support.

Technical aspect: MA7 and MA20 have moved up, forming dynamic support, with 59.53 being a strong support level from previous lows, while 61.71 serves as the dividing line for bulls and bears intraday.

A pullback to 61.3-61.5 to stabilize with light positions, stop loss at 61.0; if effectively breaking through 61.75, follow with bullish positions, target 62.0-62.2, stop loss below 61.4. If it falls below 61.0 and closes underneath, it will turn weak in the short term, and wait for stabilization at the support of 59.53 before re-establishing positions.