12.15 Oil Afternoon Outlook
From the current 1-hour K-line chart and market data, after hitting a bottom, oil prices have started a gentle rebound. In the short term, prices have moved above the short-term moving averages, showing a weak rebound trend. However, they are still under pressure from the previous downward trend, with a relatively stalemate between bulls and bears. The fluctuation range is narrowing, indicating that the bullish forces are cautious during the rebound process, with insufficient upward momentum.
After the K-line price stabilized at a low of 56.846, it rebounded with weak strength but encountered resistance at 57.60, showing certain selling pressure above. In the short term, it may oscillate in the range of 57.30 - 57.60. Although the moving averages have turned upwards, they are closely aligned, reflecting an unclear direction for bulls and bears in the short term. Further direction will need to be determined before clarifying the trend.
Trading Suggestions
Duo: If the price stabilizes above 57.50, consider low-buy opportunities when it pulls back to the 57.40 - 57.45 range, with an upward target of 57.60; if it breaks through, further targets could be around 57.80.
Kong: If it effectively breaks below 57.30 (20-day moving average), it may pull back to 57.00 or even 56.80 in the short term. A light short position can be taken with a stop loss set above 57.60.
