Crude oil pulled back 0.59% today but the trend is screaming higher. WTI at $82.71 and nobody's talking about it.
🛢️ The Setup:
Price: $82.71 | RSI: 52.9 (neutral, not overbought)
Trend: Strong uptrend — SMA5 > SMA10 > SMA20 > SMA50 (all stacked bullishly)
MACD positive at 0.0264 with histogram expanding
Oil rallied from $68 to $82.71 while everyone was watching crypto and tech stocks. That's a 20% move under the radar.
🔑 Key Levels:
Support: $80 (SMA20 / psychological level)
Strong Support: $70.44 (swing low)
Resistance: $98.26 (3-month high area)
📊 Why Oil Matters to Your Portfolio:
• Geopolitical tensions = supply risk premium
• OPEC discipline holding
• Summer driving season demand
• $82.71 is mid-range — not overextended
The SMA stack ($80.7 > $80.3 > $82.4 > $80.1) shows healthy trend alignment. Pullbacks to $80 are buying opportunities as long as the structure holds.
⚠️ Watch for: any break below $80 could trigger a deeper retest of $75.
Is oil heading to $100 or is this a range-bound market? What's your energy thesis? ⛽
#CrudeOil #Commodities #Trading
⚠️ This is not financial advice. Do your own research. Trading involves risk of loss.
🛢️ The Setup:
Price: $82.71 | RSI: 52.9 (neutral, not overbought)
Trend: Strong uptrend — SMA5 > SMA10 > SMA20 > SMA50 (all stacked bullishly)
MACD positive at 0.0264 with histogram expanding
Oil rallied from $68 to $82.71 while everyone was watching crypto and tech stocks. That's a 20% move under the radar.
🔑 Key Levels:
Support: $80 (SMA20 / psychological level)
Strong Support: $70.44 (swing low)
Resistance: $98.26 (3-month high area)
📊 Why Oil Matters to Your Portfolio:
• Geopolitical tensions = supply risk premium
• OPEC discipline holding
• Summer driving season demand
• $82.71 is mid-range — not overextended
The SMA stack ($80.7 > $80.3 > $82.4 > $80.1) shows healthy trend alignment. Pullbacks to $80 are buying opportunities as long as the structure holds.
⚠️ Watch for: any break below $80 could trigger a deeper retest of $75.
Is oil heading to $100 or is this a range-bound market? What's your energy thesis? ⛽
#CrudeOil #Commodities #Trading
⚠️ This is not financial advice. Do your own research. Trading involves risk of loss.