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January 29, 2026 WTI Crude Oil Midday Analysis
Short-term slightly bullish with volatile swings, bulls and bears pulling in different directions.
Cheng Jingsheng briefly explains from two aspects. First, the news: Middle East geopolitical tensions + US cold wave reducing production support oil prices, but US crude oil inventories have surged, demand remains weak, and OPEC+ is not increasing production, leading to mutual restraint between bulls and bears, making it difficult for oil prices to surge unilaterally.
Second, technical analysis: daily chart shows a bullish arrangement, current price around $63, resistance at $64.5, support at $61.5, RSI is relatively strong but not overbought, likely to fluctuate within the range.
Trading suggestions: avoid chasing highs or lows, consider buying on dips near $61.5 with a stop loss below $61; if prices rise to around $64.5, consider short-term small positions for shorting, quick in and out, keep positions light, take profits when the trend is favorable, prioritize risk management.
The above is only personal advice for reference. Please follow Cheng Jingsheng's strategic layout for specifics!$GT $ETH #内容挖矿焕新公测开启