Crude oil changes overnight, and there is still room for shorts
It is important to choose a good path, but you will not succeed without the confidence to stick to it. A lot of things just happen in one thought, so when we decide anything, we have to think more deeply. The choice is important, but the persistence after the decision is even more important. No matter what choice you make, stick to it, and you will always succeed.
Crude oil showed a V-shaped reversal yesterday. Due to the speech of the chairman of the Federal Reserve in the evening, the Asian and European markets mainly fell back. After the chairman of the Federal Reserve began to speak in the evening, he strengthened the expectation of raising interest rates. It has been formed, and there is room for short-term decline. Crude oil operation is recommended to sell at 77.95, risk control 78.40, target 76.80~76~75.50
Crude oil is bearish for several reasons:
1. Crude oil is currently in the daily range of shocks, and short positions have fallen back again due to the impact of interest rate hike expectations.
2. According to my personal analysis, the current trend is still regarded as the upgraded X-wave c. Referring to the structure of X-wave a, there is still room for downside in the short term, and then it will go up again.
3. The intraday pressure is 77.80~78.30, and the support is 76.60~75.50.
Traders, if you like this idea or have your own opinion about it, please write in the comments. I will be happy 👩💻
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