May 4th Crude Oil Analysis:

Crude oil previously surged to 106.50 due to geopolitical tensions in the Strait of Hormuz. After risk aversion premiums were digested, the bulls took profits, and the price quickly dropped to 98.59, entering a short-term wide-range oscillation and correction phase. Currently, the 1-hour cycle price is 101.63, in a weak rebound after oversold conditions, with the KDJ indicator's three lines rising and the J value approaching overbought, indicating diminishing rebound momentum and a potential pullback. Intraday resistance is at 102.57-103, with strong resistance at 104; support is at 101, with strong support at 99.8-100. Overall, long-term geopolitical benefits are positive, but the short-term trend faces pressure. Trading should focus on range-bound oscillations, with bearish positions considered on rebound resistance, and a bullish stance on key support rebounds for low positions.

Trading suggestion: 105-110 range, target 100-90. $BTC $GT $ETH #美国寻求战略比特币储备