Oil at $84.14. Up 22.7% from its 3-month low while everyone was watching crypto. The quiet commodity bull run continues. 🛢️
WTI Crude is holding above all key moving averages — SMA5 ($83.11), SMA10 ($81.16), SMA20 ($82.53), and SMA50 ($79.25). RSI at 54.5 is comfortably neutral with bullish bias. The trend is strong up, and the market is not paying attention.
📊 Why Oil Still Matters:
Geopolitical risk premium is real. OPEC+ supply discipline is holding. Summer driving season demand is peaking. And while the world talks about EVs, global oil demand just hit new all-time highs. The 22.6% discount from 3-month highs ($108.66) offers a margin of safety.
📋 Key Levels:
Support: $70.44 (strong floor)
Resistance: $93.89 (first target)
Breakout target: $108.66 (3-month high)
Oil is the forgotten asset in a world obsessed with AI and crypto. But when inflation resurges — and it will — oil will be back in the spotlight.
Oil above $100 by Q4 2026 or are we heading for a recession? What is your macro call? 🌍
#Oil #Commodities #Macro #DYOR
⚠️ Disclaimer: This is not financial advice. Commodity trading involves substantial risk. Always do your own research.
WTI Crude is holding above all key moving averages — SMA5 ($83.11), SMA10 ($81.16), SMA20 ($82.53), and SMA50 ($79.25). RSI at 54.5 is comfortably neutral with bullish bias. The trend is strong up, and the market is not paying attention.
📊 Why Oil Still Matters:
Geopolitical risk premium is real. OPEC+ supply discipline is holding. Summer driving season demand is peaking. And while the world talks about EVs, global oil demand just hit new all-time highs. The 22.6% discount from 3-month highs ($108.66) offers a margin of safety.
📋 Key Levels:
Support: $70.44 (strong floor)
Resistance: $93.89 (first target)
Breakout target: $108.66 (3-month high)
Oil is the forgotten asset in a world obsessed with AI and crypto. But when inflation resurges — and it will — oil will be back in the spotlight.
Oil above $100 by Q4 2026 or are we heading for a recession? What is your macro call? 🌍
#Oil #Commodities #Macro #DYOR
⚠️ Disclaimer: This is not financial advice. Commodity trading involves substantial risk. Always do your own research.