#美联储重启降息步伐 12.8 Crude Oil Market: Bullish Signals Strengthen, Looking for Breakout Opportunities Amid Consolidation

Last Friday during the US session, WTI continued its rebound, with the near-month contract closing at $59.67, up 1.2% on the day. This rally isn’t a coincidence—there are two main factors supporting it.

First, the macro perspective. The market’s eyes are on the Fed’s meeting next week, and rate cut expectations are mostly priced in. If there’s an actual rate cut, funding costs will decrease, industrial and consumer demand will pick up, and the energy sector will naturally benefit. On the supply side, geopolitical issues remain, and the pace of supply recovery is still tightly constrained. So the current situation is: macro expectations are improving, supply is tightening, and technicals are turning bullish—these three positives are stacking up, making the bottom support quite solid.

What about the technicals? On the daily chart, oil prices have been oscillating, with alternating up and down days. The key level is the $56 support—multiple tests haven’t broken it, indicating strong buying support. MACD is tangled below the zero line, and bearish momentum is clearly waning. If $56 doesn’t hold, a medium-term downtrend may develop; but as long as it does, the rebound can continue.

Zooming in to the 1-hour short-term chart, oil has rebounded from the lower range and is still consolidating within the box. There was some pullback near the $60 mark in early trading, but the moving averages are already trending upwards, so the short-term trend leans bullish within the range, with the bulls gradually taking control.

**How to set up the trading strategy?**

Intraday, a breakout to the upside is expected, but don’t expect too much range. The idea is: favor buying on pullbacks, with selling on rebounds as a secondary strategy.

- Watch the $61.5-$62.5 resistance range above
- Focus on the $59.0-$58.0 support below

At the current price, you can consider setting up long positions, targeting the $60.5-$61 area, with a stop loss at 0.4 points. $BTC $ETH