Hello traders, I think crude oil will continue to fall, what do you think?
From the 4 hour chart
Near 79 is the support level of the last few rebounds. I think it can be regarded as a short-term watershed. If this support level is broken, the downside will open below. Conversely, if support is formed here again, you can wait to buy short positions near 80.7. From a margin perspective, the downside is significantly higher than the upside. Judging from the current K-line distribution, the signal of peaking at the high level is obvious, so I think it will fall below here, and then accelerate the decline.
Therefore, in terms of strategy, 79sell tp is around 77.3, and it will be around 76 after breaking the position
If you agree with my point of view, welcome to follow
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