WTI crude oil prices have rebounded continuously since this week, and the US EIA inventory surge has made the trend feel some pressure near the important resistance level 76, but the decline in WTI oil prices after the negative data lasted only three minutes, showing that the short-term trend is very resilient.EIA crude oil inventories increased by more than 10 million barrels, and WTI oil prices quickly recovered after a brief declineU.S. commercial crude inventories rose by 10.231 million barrels in the week ended Dec. 9, according to data released Wednesday by the U.S. Energy Information Administration (EIA), a figure that surprised market expectations for a decline of nearly 3.6 million barrels.The unexpected negative oil price inventory data made WTI oil prices fall nearly $1 / barrel in the short term, but this impact was very short, specifically, only lasted three minutes after the oil price began to rebound, and then recovered in less than ten minutes of the inventory data, which reflects the short-term rebound momentum of oil prices is very resilient.Since the beginning of the week, WTI crude oil prices have continued to rebound and recover more than half of last week's gains, which may be mainly because the market has turned to Russia following the introduction of the G7 price cap on Russian crude oil. Russia has said it will not sell crude to countries that set a price cap and is considering imposing a price floor in response.The International Energy Agency (IEA) said in its monthly report on Wednesday that global crude oil demand in the fourth quarter of 2022 will fall by 110,000 barrels per day year-on-year to 100.8 million barrels per day. But it expects oil prices to rise next year as Russian exports shrink.From the trend of WTI crude oil on Tuesday, the weaker-than-expected CPI data in the United States played a significant role in stimulating the rise, because the weak dollar and the rising risk appetite are conducive to oil prices. Therefore, the next Federal Reserve interest rate resolution is also expected to significantly affect the direction of WTI crude oil, but it is difficult to say whether it is a boost or a depress, because the combined impact of the policy statement, interest rate dot plot, economic expectations and Powell's speech is expected to be complex.Technical analysis of WTI crude oil priceThe daily chart shows that the price of WTI crude oil has rebounded continuously, and it currently shows that it has broken through the upper boundary of the 74-76 resistance area, and if it is confirmed that 76 will usher in further upside space, the initial resistance is concerned about 80, and the further resistance is concerned about 83 after breaking through. However, if the price rises and falls, that is to say, the failure to break 76, then we should pay attention to the risk that WTI crude oil will resume its decline after the end of the rally, so that the downside target will look back to 70 and lower.The content on this web page is for general market commentary only and does not necessarily constitute any form of investment advice (tax, legal, accounting). This article does not constitute an offer or promotion of direct investment in specific financial products. The content is for reference only. Readers should not rely on the information contained herein, nor should their actions and omissions be based on such information. We are not responsible for the results of any person's actions or omissions based on this document. We make no warranties as to the accuracy of the content or the appropriateness of the information provided. This article is not intended for dissemination within the People's Republic of China (excluding Hong Kong, Macao and Taiwan for this purpose), except as permitted by the applicable laws of the People's Republic of China.