Crude Oil Technical Analysis

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Real-time crude oil market analysis: Futures crude oil prices are rising slowly, with real-time quotes at 86.8. Let’s first look at the position breaking situation between the hourly upper rail of 87.2 and the hourly lower rail of 85.8. If the position breaks upward, pay attention to the pressure range formed by the 4-hour Bollinger Band upper rail of 87.5 and the 4-hour error upper rail of 88. Above, focus on the 89 integer mark. In terms of support, pay attention to the hourly lower track of 85.8, followed by yesterday's low support position of 84.6. For defensive support, look at the weekly MA5 moving average of 83.6. Overall, crude oil prices are rising slowly and gradually breaking through highs, but the span of increase is not large. The European market is tentatively set to fluctuate in the range of 87.5-85.8, and the market will continue to trend after subsequent breaks.
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Crude oil: Although there was a negative backtest yesterday, the support of the 10 moving average is still there, and it is running above the upper track of the previous upward channel. The bullish trend remains unchanged, and it will temporarily enter a range-based consolidation in the short term; the key support is the 84.6 line, which exists With three bottom supports, today's Asian and European markets cannot continue the overnight suppression, and the US market will easily pull up and rebound; therefore, 84.6 will continue to be bullish, with target resistances of 86.5, 87, and 87.6;
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The fluctuations in crude oil futures prices for two consecutive weeks have been slow. This trend will not continue forever, and we need to pay more attention to the sudden rise or fall. At present, the hourly Bollinger Bands are closed. During the day, pay attention to the breakout of the upper and lower rails of the hourly Bollinger Bands in the 86.2-84.8 range. In terms of resistance today, the hourly upper track is 86.2, followed by the pressure range formed by this week’s high point of 87 and the 4-hour upper track of 87.3. The defensive resistance is the daily Bollinger Band upper track of 87.8.
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