US Crude Oil SPOT
Long

USOIL: Go long on pullbacks

99
Geopolitical risks have dominated short-term market sentiment for crude oil. Investors' concerns about the supply side have overshadowed negative factors on the demand side, driving oil prices to rise consecutively. However, the weak global economy has dimmed the long-term demand outlook, limiting the extent of oil price increases, resulting in relatively complicated overall market sentiment.
From a technical indicator perspective, momentum indicators are showing positive signals, and the MACD is trending upward. This indicates that the bullish bias is strengthening, but a fully established uptrend has not yet formed.
Overall, technical indicators point to a certain bullish tendency, though it is also necessary to monitor the price performance at key resistance levels.
In the short term, focus on the resistance range of 63.5–64.5 on the upside and the support range of 60–61 on the downside. For intraday operations, the main strategy is to go long on pullbacks, with short positions on rebounds as a supplementary approach.

💎Trading Strategy:
Buy 61.8 SL 62.4 TP 61.1

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