Mid-December Crude Oil Trend Overview

The EIA inventory report has been released, showing a decline of only 1.8 million barrels — less than the market expected of 2.3 million barrels, and significantly below the API data of a 4.8 million barrel decrease. What does this mean? Institutions are doing the math: by 2026, global crude oil inventories could increase by 2 million barrels per day, with excess supply pressures becoming more apparent.

However, there is a hedging factor. The Federal Reserve's rate cut effects are becoming evident, and the US dollar is under pressure and weakening, which provides support to oil prices. Some of the macroeconomic bearish sentiments have been alleviated.

From a technical perspective, the short-term situation is very tight. Support levels are firmly held at 57 to 56.5, with several attempts to defend these levels successfully, indicating a solid bottom. Resistance is capped between 59 and 59.5, where multiple bullish attempts have failed, forming a stage ceiling.

The tug-of-war between bulls and bears is causing oil prices to fluctuate within this range, with an unclear direction. Strategically, it is advisable to buy on dips primarily and take profits at higher levels.

Specific operations: build long positions around 57, add on at 56.5, set a 6-point stop-loss, and target 58 to 58.5; for shorts, watch real-time signals. #数字资产生态回暖 The ETH trend is also at a critical juncture and is worth observing.