Crude Oil News Analysis:

On Friday (June 28th), during the Asian session, international oil prices fluctuated at high levels. WTI crude oil once refreshed its near two-month high to $82.08 per barrel and is currently trading around $81.94 per barrel. The intensification of geopolitical tensions, particularly the conflict between Israel and Hezbollah in Lebanon, has raised concerns about disruptions to Middle Eastern crude oil supplies.

Brent crude oil futures settled up $1.14, or 1.34%, at $86.39 per barrel on Thursday. U.S. crude oil futures settled up $0.84, or 1.04%, at $81.74 on Thursday.

The market is also focused on the upcoming release of the U.S. Personal Consumption Expenditures (PCE) price index, a key inflation report and the Fed's preferred inflation gauge, to assess the possibility of future Fed rate cuts. The market expects the data to show a slowdown in U.S. inflation, which could boost expectations for a Fed rate cut in September, potentially further impacting crude oil demand expectations.

Crude Oil Technical Analysis:

Oil is in a contractionary oscillation, with consecutive doji candlesticks on the daily chart, showing no clear trend continuation. The weekly chart indicates a stabilization and upward trend, while the daily chart shows a rebound followed by a consolidation and accumulation of momentum. It remains to be seen whether it will be a strong or weak consolidation, with a strong market using sideways consolidation instead of a downward correction.

On the 4-hour chart, the Bollinger Bands are starting to flatten, indicating a potential breakout. Short-term operations should focus on the European session and beyond. Crude oil once again surged to near 81.8 yesterday, and although it did not break through, the strong momentum is evident. Due to the 82.8 peak not being broken, a pullback occurred at midnight, closing near 80.8. Therefore, the short-term crude oil outlook is for a consolidation within a range, with attention to 79 below and 82.8 above. Until the previous high is broken, a significant upward movement is not expected. Today's crude oil trading range can be defined as 82.8/78, with high-selling and low-buying strategies at key levels. Only a break below 80 would make the bearish trend more stable.

Overall, the suggested strategy for crude oil trading today is to focus on buying on dips and selling on rallies, with short-term resistance at 82.8-83.3 and short-term support at 81.0-80.5.

Disclaimer: None of the information contained here constitutes an offer (or solicitation of an offer) to buy or sell any currency, product or financial instrument, to make any investment, or to participate in any particular trading strategy.