On Tuesday (December 2nd) in Asian trading, US crude oil prices were trading around $59.4 per barrel. As a crucial pipeline system connecting Kazakhstan's oil fields with Russia's Black Sea coast, the CPC has averaged 1.6 million barrels per day this year. Recently, due to severe damage to a mooring facility by a drone, news of a loading halt circulated in the market. Although CPC shareholder Chevron subsequently stated that both moorings were operating normally, the damage to the terminal facilities still raised concerns about the continuity of crude oil exports from the Black Sea region. The market is sensitive to potential supply chain disruptions, and international crude oil prices rebounded, supported by expectations of tightening supply.

Geopolitical concerns are also not to be ignored. Tensions between the US and Venezuela have escalated again, with the US suggesting that Venezuelan airspace should be considered closed. This has raised concerns about Venezuela's daily exports of approximately 800,000 barrels, most of which are destined for major Asian countries. If these exports are affected, it will further limit the global supply available for allocation.

From a daily chart perspective, crude oil is currently in a minor consolidation phase, with three consecutive bearish candles testing the previous low near 56. The MACD indicator has formed a death cross near the zero line, indicating increasing bearish momentum. A break below the strong support level of 56 would signal a medium-term downtrend for crude oil.

In the short term (1-hour chart), crude oil is consolidating at high levels, repeatedly crossing the moving average system, indicating a primarily sideways trend. However, the overall trend remains upward. The MACD indicator's fast and slow lines have fallen back to near zero and are about to form a golden cross, accumulating bullish momentum. A higher probability of upward movement is expected for crude oil today. Today's strategy: Buy at 59.00, stop loss at 58.20, target 60.50.

Disclaimer: The article is contributed by the market analyst from Bitop market observation team. The content is solely for personal opinions and sharing. The analysis is time-sensitive and provided for reference and discussion only. It does not constitute any investment advice. The market is risky, so investing should be done cautiously.