12.8 Monday Morning Crude Oil Trend Analysis

Crude oil rose to 60.057 before falling back sharply, now stabilizing at 59.844. The 5/10/20-day moving averages are in a bearish arrangement, with strong resistance between 59.9 and 60.0.

The strategy is mainly to short on rallies, with initial support at 59.746. If this level is broken, then the focus will be on the 59.69-59.70 range. #原油