$Crude Oil Futures (JUL6) (CLmain.US)$ $Micro Crude Oil Futures (JUL6) (MCLmain.US)$ Looking back at Thursday's WTI crude oil movement, after the Asian session opened, oil prices edged lower, falling to $109.8 at 08:30. After stabilizing, prices slightly rose to an intraday high of $110.45. The market then began a slow decline! Influenced by the drop in U.S. stocks, the decline accelerated during the U.S. session. At 22:45 during the U.S. session, prices fell to an intraday low of $105.10. After bottoming out and stabilizing, prices quickly rebounded, rising to $107.86 in the early hours. The market then rapidly reversed its gains, closing at $106.1. The daily chart closed with a large bearish candle below the Bollinger Bands' middle band.
From a technical perspective, the daily chart closed with a large bearish candle below the Bollinger Bands' middle band, forming a continuation of the bearish outlook together with Wednesday’s long upper shadow bearish candle. If today the price can effectively break through $109.6, the downward pressure from the bears might temporarily ease. From the four-hour and half-hour trends, this wave of rebound has already broken through $107.9, and if the pullback does not break $105.1, a new bullish signal may emerge, potentially extending the uptrend. However, both the daily and four-hour charts remain bearish!
In summary, I have devised two strategies for your reference only.
If the intraday rise fails to break through $109.6, it will form a strong bearish signal. Gradually enter short positions (2% of total position), executing a short-term bearish strategy...