Crude oil bears are not finished, predict the trend of crude oil

Short-term-king Updated   
TVC:USOIL   CFDs on WTI Crude Oil
As the banking crisis hit the global financial and oil markets, NYMEX crude oil and Brent crude oil both fell more than 9% this week, and oil prices will record their largest weekly decline since the week of December 9 last year.

From the perspective of the trend, crude oil rebounded weakly after breaking through the level. Whether it is the daily or weekly line, it is effectively falling below. Pay attention to the trend after a few months of volatility. The market must continue to take advantage of the trend in the short term.

Taken together, crude oil as a whole is still in a bearish trend. At the daily level, crude oil oscillates and breaks downwards, and oil prices lose important support near the 70 mark. The market tends to continue to run downwards in the Bollinger band. The target refers to the position near the low of 62.43 on December 2, 2021.Since oil prices have recorded a longer lower K-line for two consecutive trading days, suggesting strong lower support, a DOJI was recorded on Thursday, and the KD technical indicators are also close to issuing an oversold signal. There is still a possibility of volatility bottoming out in the short term; the initial resistance is near the intraday high of 70, and the short-term resistance can be reasonably lowered to near 68.6-68.8.

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Do you think crude oil will fall again?
Crude oil as a whole is in a weak market
Crude oil trend down
It is difficult for crude oil to change the trend immediately in a short period of time. After a long period of decline, it will at least build a bottom first, and then have a chance to reverse
How would you choose to participate in crude oil trading

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