OPEC has not taken a real approach to enforce compliance with selective production cuts, and the production cuts are expected to continue until the first quarter of 2024.Since OPEC's meager production cuts of one million barrels per day are unlikely to offset the impact of the decline in global crude oil demand, it is expected that there may be an oversupply of oil in the coming months.
Judging from the chart, oil is still in a downward trend, but the support below 72 is very strong, so we need to observe the support of 72-72.2 and wait for the oil to choose the direction.
So you can try to buy and strictly observe the support point to make a stop loss, because it is a downtrend, you can also wait for the rebound to the resistance point to sell, so that your success rate is greatly increased
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If you follow my strategy, you are now profitable and the resistance is 74.8-75
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Following my strategy, your success rate has also greatly increased today