May 5th Xiaoyue Crude Oil Analysis



After crude oil found support and stabilized around the low near 100.08, it then kicked off a wave of strong upward momentum, surging to a peak of 107.57. The firm order support at lower levels was solid, and bullish momentum remains sufficient. The pullback after hitting the high is normal profit-taking; the price still holds above the key support area, and it has not broken the overall upward pace. At present, the market remains in an upward channel. The retracement looks more like a chance for bulls to buy on dips. The overall bullish-dominated structure is clear. Going forward, as long as support is maintained, the momentum for further upside remains online.

Trading suggestions:
Enter positions in batches in the 102.0-103.0 range,
Targets: 106.5-110.5.
#WTI原油
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