WTI crude oil surges early in the morning! Standing firm at the 61 level and pushing to new highs

Market fluctuations are always the result of a battle between bulls and bears. Only by confidently following the trend can profits be secured. WTI crude oil continues its relatively strong pattern in the morning, with the rhythm of oscillation being key. Grasping support levels to position is to seize opportunities.

Cheng Jingsheng provides an analysis of the short-term trend. From the news perspective, the temporary shutdown of oil fields in Kazakhstan has caused supply disruptions. Extreme cold weather worldwide has boosted energy heating demand. Coupled with institutions raising global economic growth expectations, multiple positive factors support oil prices to rise; although global oversupply expectations remain, short-term geopolitical and demand-side positives dominate market sentiment.

From a technical perspective, WTI crude oil stabilized at the $61 level early in the morning. The daily candle closed with a large bullish engulfing pattern over the previous upper shadow, forming a second upward attack pattern. The 1-hour moving averages are in a bullish alignment, MACD remains above the zero line with continued red bars, indicating short-term bullish momentum. The support at 60.8 has become strong support.

Trading suggestions: Focus on buying on dips, rely on support at 60.8-61.0 for long positions, with a stop loss at 60.4. Target the 61.8-62.0 range. If the price breaks through 62.0, add positions accordingly, aiming for 62.5-62.6 key resistance. If the rebound faces resistance near 62.0, consider a light short position with a stop loss at 62.3, targeting a return to the 61.2-61.0 range.

The above is only personal advice, for reference only, not investment advice. Please follow Cheng Jingsheng's layout at Shipan for specifics!#WTI原油期货价格，也很符合谐波，完成大级别的Bullish看涨蝙蝠形态后，正常小幅拉盘，目前价格80附近，1月12日将要公布美国12月末季调