🛢️ Crude oil at $84.68 is quietly grinding higher while everyone's focused on tech stocks. Five straight days above the 20-day MA, and the setup is screaming 'sleeper trade of the month.'
📊 Technical Snapshot:
• Price: $84.68 (+0.21%) | RSI: 55.8 (bullish lean)
• Trend: Strong uptrend — price above SMA5 ($83.27), SMA10 ($81.24), SMA20 ($82.57), and SMA50 ($79.27)
• MACD positive and expanding
• Volume: 180K contracts — normal, no signs of exhaustion
Oil has recovered from $68.55 lows and is now -21.4% from the $107.77 high. The geopolitical risk premium is underpriced right now — Middle East tensions, OPEC+ discipline, and summer driving season all support higher prices.
📍 Key Levels:
• Support: $82.57 (20-day MA)
• Resistance: $93.76 (prior supply zone)
When was the last time you had a clean trend in commodities? This is it.
Bullish or bearish on oil for Q3? Drop your thesis 📈
⚠️ Disclaimer: This is personal analysis, not financial advice. Always DYOR and manage risk.
#CrudeOil #Commodities #DYOR
📊 Technical Snapshot:
• Price: $84.68 (+0.21%) | RSI: 55.8 (bullish lean)
• Trend: Strong uptrend — price above SMA5 ($83.27), SMA10 ($81.24), SMA20 ($82.57), and SMA50 ($79.27)
• MACD positive and expanding
• Volume: 180K contracts — normal, no signs of exhaustion
Oil has recovered from $68.55 lows and is now -21.4% from the $107.77 high. The geopolitical risk premium is underpriced right now — Middle East tensions, OPEC+ discipline, and summer driving season all support higher prices.
📍 Key Levels:
• Support: $82.57 (20-day MA)
• Resistance: $93.76 (prior supply zone)
When was the last time you had a clean trend in commodities? This is it.
Bullish or bearish on oil for Q3? Drop your thesis 📈
⚠️ Disclaimer: This is personal analysis, not financial advice. Always DYOR and manage risk.
#CrudeOil #Commodities #DYOR