#美国非农就业数据未达市场预期 Crude Oil Weekly Review: Facing Resistance After Surge, Support Levels to Watch Next Week

Trading is never a one-way street; markets will never just keep rising. The real test is whether you can find the rhythm amid volatility. This week’s crude oil movement was just like that—initially surging strongly in the first half, then being pushed back in the second half, with bulls and bears playing a tug-of-war in a dramatic show.

At the start of the week, crude oil benefited from geopolitical tensions and favorable inventory data, climbing from 55.78 all the way up to around 59.80, a significant gain. But then the situation reversed—concerns about slowing global economic growth emerged, and crude demand expectations were downgraded. As a result, the bullish momentum faded, and prices retreated from the highs, closing the weekly candle around 58.77. The overall movement has been oscillating within a broad range of 55 to 60, typical of a sideways market.

Looking at the 4-hour K-line, this week’s crude oil chart shows a "V-shaped rebound followed by a sharp pullback." Although prices broke through the previous consolidation zone, they failed to hold above the 60 mark, indicating significant selling pressure overhead. Currently, the market is oscillating within a short-term range of 58.25 to 59.80. Moving averages still look bullish, but both the KDJ and MACD indicators show signs of bearish divergence, suggesting a short-term correction may be imminent.

From a technical standpoint, 58.25 is a crucial support level to hold after this rebound—breaking below it could see prices testing the 57 to 56.71 zone. On the upside, 59.80 is a resistance level; only a break above it would signal further upward potential.

Next Monday’s Trading Strategy

Short Positions: If the rebound is halted around 59.50 to 59.80, consider entering short positions in stages, targeting 58.50 to 58.25.

Long Positions: If prices pull back to support around 58.00 to 58.25, consider building long positions gradually, with targets around 59.00 to 59.50.