Crude oil is approaching highs and continues to short

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Real-time analysis of crude oil market: Crude oil did not fall below the 70 mark for four consecutive trading days last week. This week, the price of crude oil will be determined by the integer mark of 70. Last week, we repeatedly suggested that we should buy at 70.5 and 70 in batches. Now it has reached the 71.5 line, which can only be regarded as the first stop of the decline. The short-term pressure range is in the 71.7-72.1 area. It is expected that there will be no big ups and downs at the beginning of the week. With 71.5 as the radius, 15 points of space will be reserved above and below as the shock range at the beginning of the week.
Today's resistance is focused on the 4-hour upper track 72.1. The upper side looks at the pressure point of 72.5 where the daily MA60 moving average and the 4-hour MA60 moving average overlap. The deviation pressure point focuses on the weekly MA10 moving average 73. For support, first look at the 1-hour middle track 71, followed by the lower track 70.6, and the deviation looks at the 70 integer mark. Overall, the 4-hour Bollinger band lower track and the daily Bollinger band lower track have turned into an upward closing state, and the probability of breaking the low again is not high. Therefore, any retracement this week is an opportunity to try a long-term bullish trend. For the European and American markets, it is recommended to mainly go long on retracements, and go short when encountering resistance at high levels.

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