Crude oil breaks key pressure, bullish
A successful person must learn to be patient. Temporary tolerance is not a surrender to fate, but a foreshadowing and accumulation for the future. A person's ability to achieve something is closely related to his endurance, and patience is an indispensable cultivation for accomplishing great things.
Crude oil staged a shocking reversal on Friday, first falling back and down as expected, but the bulls fought back at the last moment of Friday, and finally broke through the recent suppression area, which means that the bulls have opened up room for upside. Crude oil operation is recommended to buy at 78.95, risk control 78.50, target 80~80.60, breaking through here will test the last rebound high of 82.60.
Crude oil is bullish for several reasons:
1. Crude oil’s big positive line the day before has broken bearish expectations, and the current short-term trend has reversed to a bullish market.
2. According to my analysis, the market breaking through 78.60 means that the downward trend did not occur as expected, which means that the Z wave 3 decline that was previously thought has added uncertainty. If the bulls break through 82.66 in the near future, it means that the previous period The downward trend is all over, and the bottoming of the shock here can only be an upgrade within the rebound X wave that started at 70.08.
3. The intraday pressure is 80.60~82.60, and the support is 79~78.35.
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