Oil just jumped +3% to $84.90. Energy traders, pay attention. 🛢️
WTI Crude is holding above ALL moving averages — 5, 10, 20, and 50-day. That is a clean bullish alignment you do not see often in commodities. RSI at 55.7 has room to push higher before overbought.
The interesting part: oil is only 22% off its 3-month high of $108.66 but has rallied 24% from its 3-month low. This suggests we are in the upper half of the range with potential for a breakout if geopolitical tensions escalate.
📊 Key Levels:
• Support: $70.44
• Resistance: $93.89
• Strategy: Long bias above $82
Supply constraints and geopolitical risk are keeping a floor under oil. If $85 holds as new support, the path to $90+ opens up.
Long energy or shorting the rally? 👇
#CrudeOil #Energy #Commodities #DYOR
📌 Not financial advice. Commodities are volatile.
WTI Crude is holding above ALL moving averages — 5, 10, 20, and 50-day. That is a clean bullish alignment you do not see often in commodities. RSI at 55.7 has room to push higher before overbought.
The interesting part: oil is only 22% off its 3-month high of $108.66 but has rallied 24% from its 3-month low. This suggests we are in the upper half of the range with potential for a breakout if geopolitical tensions escalate.
📊 Key Levels:
• Support: $70.44
• Resistance: $93.89
• Strategy: Long bias above $82
Supply constraints and geopolitical risk are keeping a floor under oil. If $85 holds as new support, the path to $90+ opens up.
Long energy or shorting the rally? 👇
#CrudeOil #Energy #Commodities #DYOR
📌 Not financial advice. Commodities are volatile.