4.13 CL Crude Oil Analysis

CL is strongly driven by the escalation of the US-Iran conflict and the expectation of the Strait of Hormuz blockade, with supply tightening expectations pushing oil prices sharply higher. The current price is 99.22, up 6.27% intraday.
On the technical side, the Bollinger Bands are opening upward, with the price moving strongly along the upper band, and the middle band at 96.62 forming a strong support;
Volume is increasing during the rise, and volume decreases during pullbacks, indicating a healthy bullish structure. The KDJ indicator is at a high level without a death cross, and bullish momentum is sufficient.
Geopolitical risks continue to ferment, and the crude oil safe-haven premium continues to expand. The short-term bullish trend is clear.
In terms of operation, wait for a pullback to the 90-95 range, with targets at 100-110. A further breakthrough of the previous high could see 118, mainly following the trend. $RAVE $GT #Gate广场四月发帖挑战