Crude Oil Analysis:

Lately, crude oil has been quite volatile! On April 1st, it suddenly plummeted, all because of news from the Middle East about a potential ceasefire. The premium that had built up during the previous conflict quickly disappeared. Currently, the market is clearly weak, with prices steadily seeking support.

Technically, crude oil has been fluctuating at high levels recently, unable to break above around 108 multiple times, indicating strong selling pressure. The 100 level is a solid support, with bulls still holding their ground. In the short term, the trend is bearish; if it breaks below 100, it’s likely to fall further. However, if tensions in the Middle East escalate again, breaking through 108 could push prices higher.

Trading Recommendations

Short positions: Aggressive traders can enter around 105.3-105.7, while conservative traders wait for around 107.6-108. Stop-losses are approximately 0.6 on each side. First target is near 100.

Long positions: Aggressive traders can buy around 100.2-100.6, while conservative traders wait for around 97-97.4. Stop-losses are approximately 0.6 on each side. Look for a rebound toward 105.

Tonight, focus on Trump’s speech. If he confirms a ceasefire, prices may continue to fall; if the situation remains uncertain, expect a sharp rebound. Use light positions and set proper stop-losses for safety! $GT $BTC