Looking back at the past week, the market performed as calculated, even exceeding expectations when crude oil price reached 81.6. From a channel perspective, the price is following the primary upward channel, indicating a bullish trend.
However, this week, according to calculations, will be a recovery phase from t1 to l1. Typically, the recovery phase of the initial wave will retrace significantly. The nearest expectation is that the price will retrace to around 78.8, but it could potentially go deeper.
Therefore, it is crucial to be very cautious when participating in the market during this recovery phase. The price movement will be highly unpredictable, so our strategy is to reduce volume and take short positions to optimize potential profits.
Wishing investors smart and effective investment strategies. Stay tuned for the next crude oil price updates.
By Pham Thanh Bien
