Crude oil continues to fall, where will it stop falling?

Short-term-king Updated   
TVC:USOIL   CFDs on WTI Crude Oil
Crude oil prices continued to fall today, and are currently trading near US 65 per barrel.On the fundamental level, the supply and demand structure of the international crude oil market is still a small oversupply. Unless OPEC has a significant production reduction, it will be difficult to achieve much growth on the demand side.

Although UBS reached an agreement to acquire Credit Suisse over the weekend, and the Federal Reserve and other six major central banks jointly acted to enhance liquidity to appease and stabilize global financial markets, U.S. crude oil once rebounded by more than 1% to US 67.4 per barrel, but worries quickly picked up again, and the United States still has unresolved banking problems. The market is worried that the banking crisis will develop into a global financial tsunami, which in turn will drag down crude oil demand. U.S. crude oil quickly took back gains and continued last week's decline. It is currently down more than 2%, with a minimum of US 64.4 per barrel, which is December 2, 2021. A new low since then.

From the trend point of view, oil prices broke down after a wide-ranging shock at the daily level, and continued to fall after losing the important support of the 70-integer mark. Even if the 70-integer mark was not recovered during the subsequent rebound and the decline continued, the downward break was basically determined. The technical side is biased towards bears, and the future market of oil prices is inclined to further test the support near the December 2021 low of 62.46, and even look at the 60-integer mark.The initial resistance above is near 67. If this position can be recovered, it will increase the possibility of low oil price shock adjustment.

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Crude oil prices are currently in a small level of rebound
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Crude oil enters the market with empty orders by virtue of resistance around 67
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The current minimum of crude oil has fallen below 65.8, reaching the take profit level of 65.8 that I prompted in the free channel. You can choose the appropriate take profit.
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Crude oil patiently waits for the opportunity to short again
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The rebound of crude oil is weak, you can enter the market with empty orders around 66.8
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The crude oil market is currently falling, and everyone waits patiently for the expansion of income
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At present, crude oil has fallen to around 66.05, and our empty orders around 66.8 are currently making a profit of about 0.7 US dollars
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At present, crude oil has fallen to around 65.82, and our short order of crude oil around 66.8 currently has a profit of about US$1
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Crude oil is chasing short again around 67

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