12.24 Crude Oil Market Analysis and Trading Suggestions

Core Conclusion: Short-term fluctuations and rebounds, but the oversupply remains unchanged. Liquidity tightens during the Christmas holiday, and volatility increases. Focus on range trading, do not blindly chase prices.

Beijing Time 16:00, WTI Crude Oil: 58.45 (-0.03%), High 58.62, Low 58.28

Resistance: 58.8-59.0 (strong pressure during the day), 59.5 (recent high)

Support: 58.0-58.2 (during the day), 57.5 (strong support), 57.0 (lower edge of fluctuation)

Trading Suggestions:

Sell high and buy low in the 58.0-59.0 range, light long positions at 58.1-58.3, stop loss at 57.8; light short positions at 58.8-59.0, stop loss at 59.3

Trend Following: Do not chase trades without a clear breakout. A breakout above 59.5 allows for small long positions (stop loss at 59.0), a drop below 57.5 allows for short positions (stop loss at 57.8)

Risk Control: Single position ≤ 2%, try to close positions intraday during the holiday to avoid overnight holding risks from sudden volatility.