Crude oil can continue to choose to short

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The U.S. Energy Information Administration (EIA) weekly report shows that the U.S. EIA crude oil inventory increased by 8.66 million barrels last week, the market expected an increase of 3.4 million barrels, analysts expected an increase of 1.03367 million barrels, and an increase of 3.463 million barrels in the previous week. The increase in EIA crude oil inventories in the United States for the week ending January 31 was the largest since the week of February 9, 2024. The increase in domestic crude oil production for the week ending January 31 was the largest since the week of November 22, 2024, ending the previous 7-week downward trend. The surge in short-term inventories is not conducive to the rebound of oil prices, and the shorts are accelerating downward. Crude oil rebounded today, stabilizing and rebounding around $71.0, and fell back after encountering resistance around $71.8. It is running in the low range, and pay attention to signs of pressure on oil prices.

Layout strategy: short crude oil rebounds to 71.0-71.5, target 70.0-69.0, stop loss 0.5 USD

If the oil price breaks above 72.5 USD/barrel, it will stop the expected shock trend and push the oil price back to the main bearish trend.

It is expected that today's oil price will trade between the support level of 69.0 USD/barrel and the resistance level of 71.7 USD/barrel.

The expected trend for crude oil prices today is bearish.

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Crude oil can continue to choose to short at high levels

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Trading ditutup: target tercapai

Crude oil can continue to choose to short at high levels

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Crude oil can continue to choose to short at high levels

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Crude oil can continue to choose to short at high levels