The situation is tense, USoil support is still there

Looking at crude oil on the daily chart, after reaching a new high of 83.60, oil prices have fallen back and adjusted. The strength of its pullback is limited. The moving average system still maintains a bullish arrangement, and the mid-term objective trend remains upward. It is expected that crude oil will enter a shock adjustment around the high of 83.60, form a secondary rhythm, accumulate upward momentum, and continue to move upward. Crude oil's short-term (1H) trend range has a larger range of shocks and corrections. The overall rhythm is at the 4-hour level. The shape is more inclined to go out of the flag-shaped relay, and the slope angle of the shape is 45 degrees. In early trading, oil prices fell back deeply to the main trend low yesterday, and fluctuated within a narrow range around minor adjustments. It is expected that the trend of crude oil will fall again during the day, testing the lower edge of the 4-hour flag. Pay attention to the support effect of the lower edge of the flag on oil prices. It is recommended to focus on the low and long positions, supplemented by the rebound from high altitudes. The top short-term focus is on the 86.5-87.0 first-line resistance, and the bottom short-term focus is on the 84.5-84.0 first-line support.

oil:buy84-84.5
tp:85.5-85
sl:83.2

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