On Tuesday (April 28th) during Asian trading, US crude oil traded around $97, continuing its high-level volatility. Fundamentally, the power struggle between the US and Iran has once again become the core variable in the global energy market. Latest news indicates that US President Trump and his national security team have discussed an agreement proposed by Iran, which includes ensuring unimpeded navigation in the Strait of Hormuz and temporarily suspending controversial issues related to the nuclear program.

Meanwhile, the energy market has already reacted to potential risks. As the Strait of Hormuz is one of the world's most important energy transport routes, its stability directly impacts the global supply chain, and the market is widely concerned about changes in the situation in the region. Current data shows that approximately 15% of global crude oil supply has been disrupted to varying degrees, amounting to about 13.7 million barrels per day, a level significantly higher than historical averages. More importantly, the main idle capacity is concentrated in the Persian Gulf region; with transportation disruptions, the actual available supply capacity is severely limited.

From a daily chart perspective, crude oil maintains an overall upward trend, but momentum has slowed. The price has repeatedly tested the $100 level without a decisive breakthrough, indicating strong resistance above. A support level has formed around $92; a break below this level could trigger a technical pullback. Momentum indicators show that while bullish forces are dominant, they are showing signs of weakening.

On the 4-hour chart, the price is trading within a range, exhibiting a slightly bullish short-term trend. Technical indicators such as the RSI remain in the mid-to-high range, indicating intensified competition between bulls and bears. A break above $100 could open up further upside potential; conversely, a break below $92 could lead to a pullback to lower support levels. In summary, today's trading strategy for crude oil suggests focusing on the $100.0-$103.0 resistance level and the $93.5-$90.0 support level.

Disclaimer: The article is contributed by the market analyst from Bitop market observation team. The content is solely for personal opinions and sharing. The analysis is time-sensitive and provided for reference and discussion only. It does not constitute any investment advice. The market is risky, so investing should be done cautiously.