4.14 CL Analysis

Current geopolitical tensions are tightening crude supply through the Strait of Hormuz, compounded by OPEC+ ongoing production cuts and global inventories at low levels. Crude fundamentals are basically maintaining a tight equilibrium. Meanwhile, the Federal Reserve’s relatively dovish stance is pressuring the US dollar, the IEA has raised demand expectations, and multiple bullish factors are converging, supporting crude oil prices to stay firm in the short term, with a low-risk long opportunity.

On the 15-minute chart, the Bollinger Bands are narrowing and flattening. The price holds above the midline at 92.48. The lower band turns upward, forming support. The KD indicator shows a golden cross with a bullish bias, suggesting the decline may slow and stabilize in the short term. The news backdrop is relatively steady with no negative pressure. Dense support lies below at 92.3–92.0, while resistance sits above at 92.9–93.1.

Trading suggestion: Long on dips in the 90–93 zone. The first target is around 99.5. If the level breaks, look for the previous high around 110.
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