During the Asian trading session on Tuesday (September 16th), international oil prices remained volatile at high levels, with US crude oil currently trading at $63.32 per barrel. The previous day, US crude oil rose 61 cents to $63.30. Market concerns are growing about Russia's supply outlook. Ukraine has recently intensified its attacks on Russian refineries in an attempt to weaken its energy industry and thus its military capabilities. Markets are concerned that Russia, a core country responsible for over 10% of global crude oil supply, could face a supply gap if production is disrupted.

At the macro level, US Federal Reserve policy and a weakening US dollar are also providing support for crude oil. Investors are closely watching the Federal Reserve's meeting on September 16-17, with widespread expectations of an interest rate cut. A rate cut could lower financing costs, thereby boosting fuel demand. Meanwhile, the US dollar index fell to a near one-week low, making crude oil cheaper for buyers holding other currencies, thus supporting demand.

On the daily chart of US crude oil, prices have recently formed temporary support around $63/barrel. Despite repeated attempts to break below this level, prices have failed to reliably break below, demonstrating continued strong buying momentum. $65.50-$66/barrel constitutes the immediate resistance range, a break of which could challenge the previous high of $67/barrel.

Technical indicators: The RSI remains in neutral territory, suggesting a relatively balanced market. Short-term range-bound trading is likely. However, a combination of positive macroeconomic factors and geopolitical tensions could lead to further price increases. Overall, oil prices remain volatile at high levels. Today's trading recommendation: short at $65.30, with a stop-loss at $65.50 and a target at $64.00.

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.