Short-term trading suggestion for US crude oil: fluctuating downward, sell on rallies

(1) Analysis: Shipping security risks in the Strait of Hormuz are once again escalating, causing market concerns over the stability of global crude oil supply and fueling a continuous rebound in oil prices. However, expectations of Federal Reserve interest rate hikes are supporting the US dollar and limiting oil price gains. In the short term, oil prices are expected to remain range-bound, awaiting a breakout direction. (2) Key focus: Geopolitical situation, inventory data, US Dollar Index. (3) Resistance: 71.50, 72.00, 72.80. (4) Support: 70.50, 70.00, 69.50.