Short-term trading suggestion for US crude oil: oscillating upward, buy on dips
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(1)Analysis Reason: The ongoing escalation of the Middle East conflict has significantly increased the risk premium on crude oil supply, with the security of transportation through the Strait of Hormuz remaining the core focus of the market. Approximately 20% of the world's seaborne crude oil passes through this channel, and if transportation continues to be disrupted, expectations of supply-side tightness will continue to support oil prices. Currently, WTI is trading around $78, with a previous single-day surge of 8.5% indicating strong bullish momentum. The daily chart has broken out of the consolidation range and stabilized above key moving averages, showing a bullish trend structure. Although the increase in US inventories has caused some price fluctuations, as long as geopolitical risks remain unresolved, oil prices are expected to maintain an overall upward trend.(2)Key Focus: Geopolitical situation, inventory data, US Dollar Index, non-farm payroll data(3)Resistance: 80.00, 81.00, 82.00(4)Support: 79.00, 78.00, 77.00
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