#Gate广场五月交易分享 WTI Crude Oil: Bulls Continue to Climb

News: The Strait of Hormuz shipping crisis continues to escalate, with U.S.-Iran conflicts recurring. Restricted passage through the strait has disrupted the transportation of approximately 13 million barrels per day of crude oil, accounting for over 30% of global trade volume. Geopolitical risk premiums keep rising. Additionally, instability in Middle Eastern oil-producing countries poses a high risk of oil export disruptions. Market concerns over supply interruptions intensify, driving funds into crude oil as a safe haven, becoming a core bullish factor supporting oil prices at high levels.
Technical: On Friday (May 15), U.S. crude oil prices traded around $105.0 per barrel, up 4.02%. The price has recently climbed in intraday trading, supported earlier by the EMA50, which provided positive momentum and helped commodities regain some buying strength. This performance occurs amid a dominant short-term bullish trend, with prices moving along the support trendline, reflecting the ongoing strength of the upward trajectory. The price is also supported by positive signals from the Relative Strength Index, and as long as it stays above key support levels, the likelihood of continued bullishness remains strong.
Tonight’s focus: Resistance at 106.5/109.0, support at 102.5/101.4.
Crude oil trading suggestions for tonight: Buy on dips around 103.2±3, sell on rebounds around 108.5±3, with a 1.0 point stop loss and a target of 3.0 per barrel!

The above is for reference only and does not constitute investment advice!