On Thursday (June 12) during the Asian session, crude oil prices are currently trading around $67.8 per barrel. CBS quoted US sources as saying that Israel is ready for Iran's actions. Tensions in the Middle East continue to escalate, and international crude oil prices have risen sharply in response, reaching the highest point in more than two months. The market is nervous about the deterioration of the situation in the Middle East, leading to increased panic about potential supply disruptions, and short-term oil prices have reacted sharply.

Data released by the U.S. Energy Information Administration (EIA) showed that U.S. commercial crude oil inventories fell by 3.6 million barrels last week, and total inventories fell to 432.4 million barrels, far exceeding the market's previous expectation of a 2 million barrel drop. The sharp drop in inventories shows that U.S. crude oil exports and demand resilience remain strong, providing additional support for oil prices.

The price of crude oil has broken through the previous joint pressure zone on the daily trend. The short-term moving average has gradually turned upward and diverged. On the daily trend, it continues to maintain a stronger trend of shock. Pay attention to whether there is a continued upward trend after the retracement confirmation.

On the 1-hour level of crude oil, the projection analysis of the c wave starting from $64.30 shows that the resistance level is $71.32. This resistance level may work together with the resistance level of $71.26 on the daily chart to temporarily prevent the rise and trigger a correction. In summary, today's crude oil operation suggestions: short near 68.5-6, stop loss 69.3, or long near 66.4-5, stop loss 65.7.

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.