Crude oil is approaching the support zone, can the bulls start a
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Crude oil rebounded strongly on Thursday, but it still failed to escape the pressure of the bears at night. The market hit a new low again. The current price has reached the support area. If the bulls have ideas, a turning point may be formed here. Crude oil operation is recommended to buy at 75.10, risk control 74.70, target 76.20~77.
Crude oil is bullish for several reasons:
1. The decline of crude oil has reached the suspense node, which is not only the reverse 23.6% of the golden section, but also the trend line. If it stabilizes, the bulls may usher in opportunities.
2. According to my personal analysis, the current trend is still regarded as an X wave c, provided that the low of 73.80 cannot be broken.
3. The intraday pressure is 76.20~77, and the support is 75.20~74.60.
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