Evening crude oil long strategy on December 8: Multiple favorable factors support the breakthrough at $60

On the evening of December 8, the crude oil market showed clear bullish signals. With multiple driving factors resonating, a new round of rising momentum is building up.

On the macro level, expectations for interest rate cuts by the Federal Reserve continue to rise, putting pressure on the US dollar index and providing strong support for crude oil assets priced in dollars. The geopolitical situation is further exacerbating the situation, with the ongoing escalation of the Russia-Ukraine conflict and the tense relationship between the US and Venezuela directly triggering market concerns about crude oil supply, increasing the risk of supply disruptions and further raising expectations for rising crude oil prices.

On the technical side, crude oil prices demonstrate strong support at the $60 level, with recent trends forming a structure of oscillating upward movement. Short-term moving averages are collectively turning upward, and the bullish trend is taking shape, achieving perfect resonance between technical and fundamental aspects.

Evening operation suggestions recommend adopting a low-buying strategy, with the possibility of building long positions in batches within the 59-59.3 dollar range. A stop-loss should be set below 58.6 dollars to strictly control risks, with the target set at the 60.2-61.5 dollar range. It should be noted that the geopolitical situation has sudden developments, so it is essential to enter the market with light positions, pay close attention to changes in news, and avoid losses caused by extreme market conditions.