Short-term trading suggestion for US crude oil: range-bound at high levels, sell on rallies and buy on dips
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(1) Analysis: The temporary easing of geopolitical tensions has caused risk premiums to fall, but uncertainties remain regarding the recovery of Middle East supply, limiting the downside for oil prices. A weaker US Dollar Index provides some support for oil prices. Combined with previous expectations of inventory declines, prices may maintain high volatility in the short term. From a technical perspective, after breaking below the previous strong structure, the price has entered a consolidation range, and volatility remains high.(2) Key focus: Geopolitical situation, inventory data, US Dollar Index(3) Resistance: 100.00, 102.00, 105.00(4) Support: 95.00, 92.00, 90.00
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