Short-term trading suggestion for US crude oil: cautiously go long on dips

1. Analysis: Trump stated that he may reject a proposal from Iran to end the war, which is the latest sign that ceasefire negotiations between the US and Iran have stalled, and this tends to support oil prices. However, US President Trump also noted that the US will take action to rescue ships stranded in the Strait of Hormuz, and OPEC+ has increased production for the third consecutive month, which may ease supply concerns and limit the upside potential for oil prices.2. Focus: News related to the Middle East situation, US March factory orders month-on-month rate3. Resistance: 102.75; 104.06; 106.63;4. Support: 99.30; 98.11; 95.93