US Crude: Range-Bound Trading, Buy on Dips, Sell on Rallies

【US Crude: Range-Bound Trading, Buy on Dips, Sell on Rallies】

(1) Analysis rationale: The restoration of Saudi Arabia's East-West pipeline and improved supply expectations in the Middle East are capping risk premiums, but uncertainties remain in US-Iran negotiations, with Hormuz transit risks supporting oil prices. No clear fundamental trend has emerged in the short term; after oversold conditions, a technical rebound correction is underway, and range-bound treatment is maintained until box resistance is broken.

(2) Key focus: Geopolitical situation, inventory data, US dollar index

(3) Resistance: 92.00, 92.50, 93.00

(4) Support: 89.00, 88.00, 87.00