The bottom of crude oil is close to support, or bottomed out and

Trading is not about waiting for the storm to pass, but learning to dance slowly in the rain. Sometimes you think the sky is about to fall, but in fact you are on the wrong side, or you are on the wrong team. Caring too much becomes a kind of fetter. Being lost for too long becomes a pain. If you hold the past too tightly, how can you free your hands to embrace the present?

Crude oil continued to decline after a weak rebound on Wednesday. The round number of 76 is close at hand, and the market has almost vented its decline here. However, there may still be a low probability within the day. At present, the probability of bottoming out and rebounding is very high. Crude oil operation is recommended to sell at 76.95, risk control is 77.40, and the target is 76~75.50. If you don't rebound and drop directly to 75.50, you can consider it much lower here.


The bottoming out of crude oil is based on the following reasons:
1. Crude oil's downward momentum has exhausted, and the daily line has obviously shortened the negative line entity.
2. According to my personal analysis, the current trend is still regarded as the upgraded X-wave c. Referring to the structure of X-wave a, there may be room for downside in the short term, and then it will go up again.
3. The intraday pressure is 76.90~77.30, and the support is 76~75.50.


Traders, if you like this idea or have your own opinion about it, please write in the comments. I will be happy 👩‍💻