usoil85.5 is an important point
Updated
Crude oil rose slowly on Tuesday and touched the 85.4 line. At the beginning of the week, the pressure node of 85.5 was mentioned many times. This is the suppression point of the weekly MA120 moving average. Tonight, the 85.5 line can be treated as the dividing line between long and short. From a short-term perspective, the Bollinger Bands in each time period are all bullish. The trend is bullish, but key pressure nodes also need to be prepared to turn downward when encountering resistance. Today's resistance focuses on the key resistance of 85.5. If the level breaks upward, the resistance that can be seen is in the 86.8-87.7 area.In terms of support, pay attention to today's low of 83.5. If it breaks below, it will basically weaken. Lower support will focus on last night's low of 82.6-81.6 area. Overall, the rise or fall of crude oil tonight will depend on whether the 85.5 position can be broken.
oil:sell85.5-86
tp:85-84.5
sl:86.5
Note
The price difference between Brent crude oil and WTI crude oil has further widened, that is, the spot price is higher than the futures price, indicating that the fundamentals of the crude oil market continue to be strongTrade active
Trade active
Note
The biggest problem with crude oil is actually supply and demand. However, recently the United States, Russia and various Middle Eastern countries, which are major exporters of oil, have increased their development efforts and the price of crude oil has been rising at a rapid rate. There may be some recent The impact of geopolitical risks
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