Recently, the output of U.S. refineries has dropped sharply, U.S. crude oil inventories have declined, and sanctions on Russia have gradually increased pressure on the import side. At the same time, attacks on U.S. and other ships in the Red Sea continue.
As can be seen from the 4H chart, oil has been supported many times, but it has not broken through the important resistance point 79.3, so it is still in shock.
But we need to adjust our thinking. Based on the current news, the rise of oil is still very strong, so we can wait for the support point to buy and observe whether it will break through the high point.
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Today's thinking is correct
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Oil reached a maximum of around 79.6 today. Follow my strategy and you should have made profits both yesterday and today.
Trade active
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It rises again at the support point. As long as you follow my ideas, you will still be profitable today.