Crude Oil Hunter

[HanHanWang]

Crude Oil Hunter #20240912
Yesterday afternoon, black commodities rebounded collectively, which seemed to be a sign of demand recovery. But it is more likely to be an oversold rebound. The bullish momentum is insufficient and it is difficult to break through upward, so the trading strategy is mainly to short at highs with a small stop loss.

Trading strategy: Before breaking through 67, short at highs
Resistance reference: 67; 68.3
Support reference: 66.5; 65.8

USWTI 15-minute chart

Please share your commons below~

[HanHanWang]

Crude Oil Hunter #20240923
Oil prices are currently in a high-level oscillation area, but a head reversal has not yet formed. Considering that the US dollar has rebound momentum, crude oil may be blocked at a high level, so short at a small stop loss at the previous high. But the short trend still has to wait until it breaks the neckline 70.3.
Libya’s latest crude oil exports have increased to 710,000 barrels/day, doubling from last week. It is unfavorable for oil prices . Today’s manufacturing PMI has a greater impact. If the European and American PMIs are lower than expected, oil prices will gain downward momentum.

Trading strategy: short on the left side of 71.3 during the day, short on a breakout of 70.3 in the short term
Resistance reference: 71.3-71.5
Support reference: 70.7; 70.3 (breakthrough); 69.5-70

USWTI 15-minute chart

[HanHanWang]

Crude Oil Hunter #20240924
Today’s Richmond Fed Manufacturing Index is as bad as PMI, so crude oil will fall rapidly again. Libyan crude oil export negotiations are also key. Be careful about the positive effect of China’s stimulus policy on crude oil prices, and try to wait for the end of the policy release before making any arrangements.
The decline of the US dollar can no longer support oil prices . Oil prices have formed a clear head reversal structure. Considering China’s stimulus policy, it should be based on breakthroughs and shorts. Once oil prices fall below the 70.3 mark, there will be opportunities for continued shorting.

Trading strategy: After China’s stimulus is implemented, 70.3 breakthrough and short
Resistance reference: 70.6 (stop loss)
Support reference: 70.3 (breakthrough); 70; 69.4

USWTI 30-minute chart

[HanHanWang]

Crude Oil Hunter #20240925

The worst performing commodity among all commodities is crude oil , especially when the US data performs poorly. Once the enthusiasm of China’s stimulus policy begins to cool down, crude oil prices are likely to give up previous gains.
Crude oil is in the process of easing horizontal shocks, and the direction of the breakthrough will determine the intraday market. Once it falls below the 71 mark, there will be continuous short selling. Considering the poor US manufacturing data, short selling at high levels with a small stop loss can be done during the day.

Trading strategy: 71.5 highs or 71 breakthroughs are short
Resistance reference: 71.5; 71.7; 72 (stop loss)
Support reference: 71 (breakthrough); 70.5

USWTI 30-minute chart

[HanHanWang]

Crude Oil Hunter #20240927

The internal news of Saudi Arabia caused the oil price to plummet, but after all, the Saudi officials have not admitted it yet. At the same time, Saudi Arabia is unwilling to see the oil price plummet, and its attitude towards increasing production may be more moderate. Therefore, the oil price may have digested the negative sentiment, and there is a market with big drops and rises. In addition, the overall surge in mining commodities will eventually affect energy prices, and there is support at the bottom. It is necessary to pay attention to the technical operation method.

Trading strategy: (trend following) breakthrough following, combined with CCI trend indicator
Resistance reference: 67.5 (breakthrough); 68.5 (stop profit & breakthrough); 70
Support reference: 66.9 (breakthrough); 65-66

USWTI 15-minute chart