Crude oil prices are searching for a breakout direction amid fluctuations!
From the daily chart, continuous bullish candles appear around 54.80, but the strength is not enough to form a true breakout, and the bulls and bears are still engaged in a tug-of-war. The key level to watch is 60.50—if it cannot break above this line, the overall market may continue to remain weak and volatile.
In the short term, the 1-hour chart shows a good performance, with the price staying close to the moving averages and approaching 60, while the MACD also begins to strengthen. There is a high possibility of continued rebound today.
The trading strategy can be as follows: Focus mainly on long positions, paying attention to low opportunities around 59.00, with a stop-loss set at 58.30 for protection. The initial upside target is near the resistance at 60.50.
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MerkleDreamer
· 5h ago
60.50 is that line again, getting stuck here every time, truly amazing.
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RealYieldWizard
· 5h ago
60.50 is another critical point. Can it really break this time, or will it just fall back again?
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MACD looks strong, which sounds good, but I've seen this kind of fluctuation many times. In the end, it's just repeated cutting.
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I believe in buying the dip at $59, but I'm worried about stopping loss at 58.3 leading to an immediate collapse.
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Here comes the same bullish rhythm again. Why is crude oil so tormenting?
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Whether it breaks 60 or not, I'll get in first and see. Anyway, ETH and SOL will move too.
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Is there a high chance of a short-term rebound? Do you really believe that? Haha.
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All talk is useless until the key support levels are broken. Wait until it breaks out before bragging.
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RuntimeError
· 5h ago
60.50, here we go again. Getting stuck here every time is really annoying.
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The low-position bottom-fishing strategy is back. Can it hold at $59? That's the key.
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MACD is strengthening? That's what was said last time too, and what was the result?
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The bulls keep pushing up. Anyway, I'm waiting at 59.
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Every time, they talk about key levels. Who is the real key level anyway?
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A stop loss at 58.30 might be a bit tight. In a volatile market, it's easy to get swept out.
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Crude oil's performance is so weak; it's not as stable as playing ETH.
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GameFiCritic
· 5h ago
60.50 is really a critical threshold; if it can't be broken, it will remain in that turbulent market... Short-term rebound potential is limited, and more importantly, whether a substantial breakthrough can be achieved. Otherwise, this oscillation pattern is too draining on people's mentality.
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MEVHunterZhang
· 5h ago
If I can't get back above 60.50, I'll just clear my position. This repeated tug-of-war is really disgusting.
Crude oil prices are searching for a breakout direction amid fluctuations!
From the daily chart, continuous bullish candles appear around 54.80, but the strength is not enough to form a true breakout, and the bulls and bears are still engaged in a tug-of-war. The key level to watch is 60.50—if it cannot break above this line, the overall market may continue to remain weak and volatile.
In the short term, the 1-hour chart shows a good performance, with the price staying close to the moving averages and approaching 60, while the MACD also begins to strengthen. There is a high possibility of continued rebound today.
The trading strategy can be as follows:
Focus mainly on long positions, paying attention to low opportunities around 59.00, with a stop-loss set at 58.30 for protection. The initial upside target is near the resistance at 60.50.
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