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2025-11-03 20:39:06

[US Crude Oil Technical Analysis] From the 240-minute candlestick chart, US crude oil is exhibiting a range-bound trading pattern. After hitting a low of $55.96, the price rebounded, subsequently rising to a high of $62.59, marking the completion of a substantial technical rebound. This rebound established the upper and lower boundaries of the current trading range, providing an important technical reference framework for subsequent price movements. Currently, the price is trading near the $61 level. Observing the candlestick pattern, the price has repeatedly encountered resistance and fallen back in this area, indicating strong bearish sentiment at this level, making a significant breakout difficult in the short term. On the downside, the $59.50 to $59.25 area forms a significant support zone; this range has accumulated a large amount of bullish defensive positions, constituting a crucial bottom line for the current market. If the price breaks below this support zone, it could open up further downside potential towards the previous low of $55.96. The MACD indicator is fluctuating around the zero line, with the DIFF line at 0.16, the DEA line at 0.10, and the MACD histogram value at 0.12. From an indicator perspective, the MACD line and signal line are running above the zero axis, but the two lines are relatively close together, indicating that the bullish momentum is somewhat limited. The histogram, after a period of contraction in the green bars, has turned to expansion in the red bars, but the strength is not significant, indicating that while the bulls have the intention to counterattack, the upward momentum is still insufficient. The Relative Strength Index (RSI) is at a neutral level of 50.27, neither entering the overbought zone nor touching the oversold zone; this value is precisely near the dividing line between bullish and bearish sentiment. Looking at the RSI's trajectory, after falling back from the overbought zone, the indicator is currently consolidating in the middle range, reflecting a temporary balance between bullish and bearish forces in the market.

Real-Time Popular Commodities

Instrument Current Price Change

XAU

3989.46

-11.70

(-0.29%)

XAG

47.776

-0.283

(-0.59%)

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60.87

-0.18

(-0.29%)

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64.68

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USD

99.915

0.051

(0.05%)

EURUSD

1.1513

-0.0006

(-0.05%)

GBPUSD

1.3127

-0.0012

(-0.10%)

USDCNH

7.1267

0.0023

(0.03%)

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