Due to the uncertainty in the geopolitical situation in the Strait of Hormuz, risk-averse sentiment has intensified in the market, and a large volume of buy orders has poured in to support oil prices. The Strait of Hormuz accounts for nearly 20% of global energy transportation supply. As control of the shipping lanes remains in Iran’s hands, geopolitical risk continues to provide fundamental support for crude oil.

From a daily perspective, oil prices have already fallen below the entire moving average system, and the medium-term trend has officially entered a turning point. The market’s pace has shifted as the primary and secondary phases alternate. The current overall trend is biased to the downside. The MACD indicator has turned downward after peaking and its histogram opening expands downward; bearish momentum continues to increase in volume and strength. In the medium term, crude oil is highly likely to see a pullback from its highs followed by a corrective adjustment.

On the one-hour short-term cycle, oil prices overall maintain a choppy and repetitive pattern with an upward bias. Moving averages form effective support, and the short-term bullish trend remains unchanged. MACD oscillates above the zero line, with bullish momentum dominating, and the intraday price action tends to move toward higher ranges in a range-bound manner.

Today’s trading reference
Buy near 95.50, stop loss 92.30, target 99.20

Disclaimer: The above is for personal market opinion sharing and reference only, and does not constitute any investment or trading advice. The market carries risk; invest cautiously, and any trading profits or losses are your own responsibility. $BTC $ETH $XAUT