#美联储启动新一轮降息周期 Crude oil faces a short-term situation: sustained supply-side pressure, with prices repeatedly testing support levels.

Why is oil prices under pressure? News of Iraq's oil field resumption directly hit the market, pushing the price to $58.50. Geopolitical risks and the Federal Reserve's potential rate cut could have provided some support, but both were overshadowed by supply shocks. API inventory data has been especially sensitive these days; as soon as new data is released, the market can reverse sharply. Currently, everyone is closely watching and hesitant to act recklessly.
How to interpret technical signals? The daily chart shows alternating red and green candles, with prices continually testing the $56 support level. The MACD is running just below the zero line; although the bears aren't very aggressive, the momentum remains downward. On the 1-hour chart, the picture is even clearer — moving averages are tightly holding down the price, preventing it from rising, and the MACD remains below zero, with the recent low-range consolidation indicating a continuation of the decline.
How to operate? Short on rebounds encountering resistance, focusing on the $58.6-$58.7 zone, start with a cautious test. Place stop-loss at $58.9. Target levels are $58.2 and $58.0. $BTC $ETH