Last week, the US crude oil market played out a classic high-level short scenario. It opened at 56.82 and surged directly to 58.95, seemingly ready to soar, but suddenly reversed at the end of the session—price plunged from the high directly downward, closing at 56.70. This long upper shadow weekly candlestick pattern is a clear shooting star reversal signal from a technical perspective.



From the chart, the bearish trend has already been established. Although last week's candlestick reached a high point, it was ultimately pushed back down, indicating a severe lack of buying interest at high levels and the emergence of selling pressure. Today's trading opportunity lies here—confidently short at 57.90, with a stop-loss set at 58.30, leaving a reasonable risk space.

As for target levels, look sequentially at 57.30, 56.80, 56.50, ultimately aiming for the 56.00 round number. This downward path is based on last week's volatility range and key support levels. Whether the trend can proceed as planned depends on today's candlestick performance. The rhythm is in sync, and the downward space is right in front.
View Original
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • 5
  • Repost
  • Share
Comment
0/400
MetadataExplorervip
· 7h ago
It's the same old pattern of opening high and crashing, so experienced in the oil market. The Shooting Star is indeed attractive; let's see if it can hold at 57.90 today. Follow the rhythm; this short position feels stable. No buyers at the high levels; now it's the bears' turn to perform. The 56 integer level is truly attractive; the road is still long.
View OriginalReply0
DataBartendervip
· 7h ago
I've seen this shooting star pattern many times, just worried it's another stop-loss trap Really? Entering a short at 57.90 so confidently? The upper shadow is so long, feels like the main force is testing the market How are you so sure about this... I'll wait until it breaks below 56 before acting Stop-loss is only 40 points, quite bold
View OriginalReply0
FOMOSapienvip
· 7h ago
Shooting Star this wave is truly amazing, a decisive plunge from a high level. It's the same old pattern of opening high and then declining, fine, continue to short. That whole number at 56 yuan is really interesting, can it reach that? I also thought about shorting at 57.90, just see if it can hold. Soaring to the sky and then crashing down, this buying volume is really weak.
View OriginalReply0
BankruptcyArtistvip
· 7h ago
Such an obvious shooting star can still be smashed? LOL, the late buyers at high levels are going to suffer again.
View OriginalReply0
FreeRidervip
· 7h ago
The "Shooting Star" move is so cliché, always claiming a short position is established, and what happens? It just goes back up again. It's the same story of entering a short at 57.90; I feel like I heard something similar a couple of weeks ago. I really don't understand, bouncing back and forth between 56 and 58, can it really make money? Wait, what's with this rhythm? Why does it sound so confident and certain? Oh, wait, can 56.00 really break down? I feel like it will get stuck around 57. Let's see how far this wave can go, but I'm just watching for now.
View OriginalReply0
  • Pin

Trade Crypto Anywhere Anytime
qrCode
Scan to download Gate App
Community
  • 简体中文
  • English
  • Tiếng Việt
  • 繁體中文
  • Español
  • Русский
  • Français (Afrique)
  • Português (Portugal)
  • Bahasa Indonesia
  • 日本語
  • بالعربية
  • Українська
  • Português (Brasil)