🛢️ Crude Oil At $87 — The Energy Trade Nobody's Talking About
WTI Crude at $87.06 with a strong uptrend. RSI 59 — leaning bullish but not stretched. Oil is quietly having a great run while crypto steals all the attention.
📊 The Picture:
Price above ALL key moving averages (SMA5/10/20/50)
MACD: +1.38 with positive histogram — momentum intact
Volume: 0.7x average — the concern
27% above 3-month low of $68.55
Supply discipline from OPEC+, geopolitical tensions, and summer driving season are all supporting prices. The question is whether demand holds as we head into fall.
🎯 Key Levels:
Support: $70.44 (structural)
Resistance: $92.16 (3-month ceiling)
Current: $87 — approaching resistance
Oil at $87 feels cheap when you remember it traded $120+ in 2022. But the declining volume on this rally suggests conviction is fading.
Oil breaking $92 or pulling back to $80? What's your energy thesis? ⛽
#CrudeOil #Energy #DYOR
⚠️ Not financial advice. Commodities carry unique risks including contango/backwardation.
WTI Crude at $87.06 with a strong uptrend. RSI 59 — leaning bullish but not stretched. Oil is quietly having a great run while crypto steals all the attention.
📊 The Picture:
Price above ALL key moving averages (SMA5/10/20/50)
MACD: +1.38 with positive histogram — momentum intact
Volume: 0.7x average — the concern
27% above 3-month low of $68.55
Supply discipline from OPEC+, geopolitical tensions, and summer driving season are all supporting prices. The question is whether demand holds as we head into fall.
🎯 Key Levels:
Support: $70.44 (structural)
Resistance: $92.16 (3-month ceiling)
Current: $87 — approaching resistance
Oil at $87 feels cheap when you remember it traded $120+ in 2022. But the declining volume on this rally suggests conviction is fading.
Oil breaking $92 or pulling back to $80? What's your energy thesis? ⛽
#CrudeOil #Energy #DYOR
⚠️ Not financial advice. Commodities carry unique risks including contango/backwardation.