đ˘ď¸ WTI Crude at $84.67 â one of the few things going UP today. Here's the setup.
Oil is in a strong uptrend, trading above its 5D ($82.92), 20D ($80.28), and 50D ($82.21) moving averages. RSI at 54.5 is neutral with bullish bias. MACD positive at +1.34 with histogram expanding â momentum is building.
đ Technical Snapshot:
⢠Today: +1.29% to $84.67
⢠3-month range: $68.55 - $108.66 (23.5% above low)
⢠Volume: 1.17x normal â healthy participation
⢠All major MAs aligned bullishly below price
đ Why This Matters: In a risk-off market (crypto bleeding, stocks mixed), commodities like oil are attracting flows. Geopolitical tensions and supply constraints support the bullish case. $85 is the key level â a break above opens the path to $90+.
đ Levels: Support $80.28 (20D SMA) | Resistance $101.94
Bullish or bearish on oil for Q3? đ¤
#Oil #Crude #Commodities #Trading #Energy
â ď¸ Not financial advice. DYOR. Commodity prices are influenced by geopolitical events.
Oil is in a strong uptrend, trading above its 5D ($82.92), 20D ($80.28), and 50D ($82.21) moving averages. RSI at 54.5 is neutral with bullish bias. MACD positive at +1.34 with histogram expanding â momentum is building.
đ Technical Snapshot:
⢠Today: +1.29% to $84.67
⢠3-month range: $68.55 - $108.66 (23.5% above low)
⢠Volume: 1.17x normal â healthy participation
⢠All major MAs aligned bullishly below price
đ Why This Matters: In a risk-off market (crypto bleeding, stocks mixed), commodities like oil are attracting flows. Geopolitical tensions and supply constraints support the bullish case. $85 is the key level â a break above opens the path to $90+.
đ Levels: Support $80.28 (20D SMA) | Resistance $101.94
Bullish or bearish on oil for Q3? đ¤
#Oil #Crude #Commodities #Trading #Energy
â ď¸ Not financial advice. DYOR. Commodity prices are influenced by geopolitical events.