On Monday, international oil prices surged significantly at the open, with U.S. crude oil rising over 3% to 103.38, hitting a three-week high. The geopolitical risk premium continues to push up oil prices. Last Friday, prices remained around 101, with Thursday seeing a 5.7% and 4.6% jump in Brent and WTI respectively, as market concerns over the ongoing Middle East conflict dominated the trend.

On the daily chart, crude oil prices were driven higher by geopolitical tensions to above 110, with a bullish moving average alignment indicating a clear medium-term uptrend. After a high-level correction, bullish momentum remains strong. The 1-hour chart shows a consolidation pattern of upward continuation, with MACD gradually crossing above the zero line, indicating sustained bullish strength.

Overall, crude oil remains in a short-term bullish dominance. It is recommended to focus on buying on dips and selling on rebounds. Resistance levels are around 110.0-115.0, while support levels are at 95.0-90.0. Key support levels should be used to follow up on long positions. $BTC $GT $ETH