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Likes ReceivedCrude oil: From a technical perspective, crude oil surged and then fell back last week, showing a complex high-level fluctuation overall. After the high on the 12th, it is expected to fluctuate bearishly until the 16th to the 19th, with the overall structure being a complex fluctuation. It's hard to judge. Such fluctuations will continue until the 24th or 25th before ending, so the current structure is centered around high-level fluctuations.
Last week, there was only one strategy for crude oil—bullish. After testing the 84.5 level three times without breaking, forming a triple bottom, the rally temporarily peaked at 87.6. Eddie Wu led the live trading team to capture the upside of this bullish trend. On Friday, crude oil hit 87.6 again, forming a double top, then retreated and closed at 85.5, entering a correction phase.
This week, the strategy for crude oil is very clear. While maintaining the bullish trend, a temporary correction is possible. As long as the triple bottom at 84.5 holds, the market remains absolutely bullish, with further upside expected to 87.6 and the ultimate target of 90. However, if 84.5 is broken, a short-term correction may occur, with support expected at 82.
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