US Crude Oil Trading Reminder: Take Cautious Short-Term Long Positions on Dips

1. Analysis: Trump has again threatened to destroy Iran’s power plants, while there are hardly any signs that Tehran is accepting the U.S. demand to end the war. This has heightened supply concerns and continues to support oil prices. However, the Easter holiday may restrict trading, and with Tuesday’s deadline approaching, the market remains cautious. Additionally, eight oil-producing countries have decided to increase daily crude output by 206,000 barrels starting in May, causing some hesitation among bulls. Given the recent sharp rise, there is a need to watch for short-term bulls taking profits. 2. Focus: Middle East situation, U.S. March ISM Non-Manufacturing PMI 3. Resistance: 114.30; 116.80; 119.50; 4. Support: 110.80; 109.50; 106.63