US crude oil short-term trading advice: fluctuating upward, buy on dips
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(1)Analysis Reason: OPEC+ has internally signaled discussions about partially resuming production increases in April, raising market expectations for a marginal relaxation in supply and causing risk premiums to decline. Meanwhile, the latest US non-farm payroll data showed solid performance, reinforcing expectations of “higher interest rates for longer,” keeping the US dollar index strong and putting pressure on dollar-denominated commodities. In addition, the pace of global demand recovery remains moderate, and changes in refinery operations and inventories have not yet formed a clear destocking trend. On the technical side, prices are running below short-term moving averages, with limited rebound momentum. Against a fundamentally bearish backdrop, prices are more likely to consolidate weakly within a range.(2)Key Focus: Geopolitical situation, trade sentiment, inventory data, US dollar index(3)Resistance: 63.50, 64.00, 64.60(4)Support: 62.50, 62.00, 61.60
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