Crude oil broke straight down yesterday, with the high point at 81.0, the lowest point at 77.0, and the closing price at 77.11. The daily level includes a big negative line. The high price did not break the previous high, but the low price broke the previous low, showing a downward trend. The daily line of crude oil showed an N-shaped downward break pattern on the general trend, and the market outlook continued to be bearish.
Crude oil shorts have broken through to open up space, and the short-term outlook is expected to continue. Short-term resistance levels focus on the 78.6-79.5 and 75.0-74.0 support levels.
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Note
76.4Note
74.91Trade active
Note
Crude oil prices continued to break down yesterday. After encountering resistance at 77.5, oil prices quickly broke down and further set a new low of 74.932. The bearish sentiment continued in the market outlook.
Pay attention to the resistance level 77-77.5 and the support level 73.7-73.0.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.