Raw weekly oil review: entering a "news lull period", technicals dominate a slow upward pace

Compared to the emotional tug-of-war in gold, the oil market has been relatively quiet this week. The lack of major news catalysts such as a sudden escalation of geopolitical tensions or a surprise OPEC+ production cut makes it difficult for oil prices to break out of a unilateral rally in the short term.

But from a technical perspective, the previous volume-driven surge on the daily chart has laid the foundation for the future trend. As long as the price does not effectively break below the starting point of that rally, the bullish defensive formation at the bottom remains solid.

Looking ahead to early next week, the strategy can continue with a "mainly low buy, high sell" oscillation bias. Pay close attention to the support strength in the $61-60 region — this is the last critical line of defense for the bulls, and a pullback without breaking can be seen as a window for phased low absorption. The resistance above is set around $65-66, serving as the upper boundary of the range; this zone has dense resistance, and it is recommended to lock in profits promptly after reaching long positions.

Of course, if oil prices can strongly break above the $66 threshold in the future, it would indicate that the bottom structure is established, and the trend may further reverse upward, allowing for a bullish outlook.