3.20 Crude Oil Oscillation Recovery, Pullbacks Are Money for Picking Up

Crude oil experienced high-level oscillation yesterday, testing the $100 mark intraday once again. After failing to hold steady, it retreated and adjusted in the latter half of the night, with lows retracing to around 92, forming a large bearish candle on the daily chart.

From a daily chart structure perspective, oil prices faced pressure at the 100 level and closed bearish, creating a clear impact on both technical patterns and market sentiment. Although the 10-day moving average has not yet been broken, the 5-day moving average has already been lost, and a bearish engulfing pattern has formed. Short-term price action is likely to shift toward oscillation and recovery. From a market sentiment perspective, after consecutive rises, bullish momentum has weakened somewhat, and moderate technical consolidation is reasonable.

Short-term analysis: The key focus above is the struggle around the 5-day moving average at 95.0–95.5, which also represents the midline of the recent oscillation range on the hourly chart. If price can reestablish above this level, the trend remains strong; if it continues to face resistance below, be alert to further technical pullbacks, with support at around 91. Once that support breaks, short-term pullbacks may accelerate; conversely, if price reestablishes firmly at $95, it may resume an uptrend.

Crude Oil Strategy: Light short positions on pullbacks to 92-91.5, stop loss at 91, target 94-95; light positions, strict stop loss discipline.

Disclaimer: The above content is merely personal thoughts and viewpoint sharing, and does not constitute trading recommendations.