WTI crude oil short-term trading advice: range-bound oscillation, sell on rallies, buy on dips
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(1)Analysis Reason: International oil prices have been affected by the temporary easing of US-Iran negotiations, leading to a decline in geopolitical risk premiums, and the market has begun to price in expectations of potential supply recovery. At the same time, the pace of global demand recovery remains relatively moderate, inventory levels have not declined significantly, and the supply-demand structure lacks strong drivers. The relatively stable performance of the US dollar has also limited the rebound space for oil prices. In the short term, bullish and bearish factors are intertwined. After WTI fell below key moving averages, momentum has weakened. If the $60 level is breached, it may trigger further technical selling pressure. Therefore, the overall trend is expected to be volatile and weak. (2)Key Focus: Geopolitical situation, trade sentiment, inventory data, US dollar index (3)Resistance: 62.60, 63.00, 63.50 (4)Support: 62.00, 61.60, 61.30
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