Short-term crude oil trading advice: oscillating downward, sell on rallies
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(1) Analysis: Iran's renewed closure of the Strait of Hormuz pushed oil prices to gap higher on the open, but market concerns about supply disruption have not yet translated into an actual shortage, and geopolitical premiums have cooled. Meanwhile, the US dollar remains strong, exerting pressure on commodities. Technically, oil prices surged and then pulled back, failing to effectively break through previous resistance areas. Overall, prices remain in an adjustment channel, with a short-term tendency for weak fluctuations. (2) Key focus: geopolitical situation, inventory data, US dollar index, OPEC+ production policy (3) Resistance: 76.00, 76.50, 77.00 (4) Support: 75.00, 74.60, 74.00
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