On Friday (January 10), US crude oil rose slightly in the Asian session, trading around $74.09 per barrel. According to the National Weather Service, a winter storm warning was issued on Thursday from eastern Texas to parts of western Virginia, including large areas of Arkansas, Tennessee and Kentucky. Oil prices rose more than 1% on Thursday as cold weather in parts of the United States and Europe stimulated winter fuel demand.

The strength of the Middle East oil market in recent weeks has also added signs of a tightening supply and demand balance as refiners are seeking alternatives to Iranian and Russian crude oil. At the same time, Russian data showed that the country's oil production last month was lower than the production target set by OPEC+, another sign of limited supply. However, the overall supply and demand contradiction is limited, and the short-term rebound of crude oil is difficult to continue.

Crude oil hit a high and fell yesterday, and the daily line closed with a large negative line, which once again reversed the previous day's positive line space, forming a short-side cannon pattern of two negatives and one positive. Near 75 may become a short-term high point, so the next step is to look at adjustments, and the 10/20-day moving average is near 72 and 71.

At the four-hour market level, yesterday's first break below the rising channel also means that the upward trend has come to an end. Today, you can find a good position to short. The middle track near 73.3 has also been converted from support to initial pressure. You can short here during the day! Crude oil strategy: aggressive short at 73-73.5, stable short at 74.5-75, stop loss 5 points, target 72!