🛢️ Oil at $86.57 and grinding higher. Is $90+ crude inevitable?
📊 Technical Snapshot:
→ WTI: $86.57 (+0.86%)
→ RSI: 60.8 — bullish, not overbought
→ Strong uptrend across all timeframes
→ Price > SMA5 > SMA10 > SMA20 > SMA50
→ Volume: declining (0.52x) — quiet advance
Why Oil Is Creeping Up:
Geopolitical tensions keep supply at risk. OPEC+ holding production cuts. Summer driving season still strong. And when oil breaks $87 resistance, the next stop is $92.
📍 Key Levels:
→ Support: $70.44
→ Resistance: $92.19
→ 3M High: $96.60
→ 10.4% from recent high
Oil is one of those assets that moves quietly until it doesn't. When $87 breaks, momentum traders will pile in fast.
$90 oil by end of August? 🛢️
#Oil #Commodities #WTI #DYOR
⚠️ Not financial advice. Always DYOR. Commodity markets carry significant risk.
📊 Technical Snapshot:
→ WTI: $86.57 (+0.86%)
→ RSI: 60.8 — bullish, not overbought
→ Strong uptrend across all timeframes
→ Price > SMA5 > SMA10 > SMA20 > SMA50
→ Volume: declining (0.52x) — quiet advance
Why Oil Is Creeping Up:
Geopolitical tensions keep supply at risk. OPEC+ holding production cuts. Summer driving season still strong. And when oil breaks $87 resistance, the next stop is $92.
📍 Key Levels:
→ Support: $70.44
→ Resistance: $92.19
→ 3M High: $96.60
→ 10.4% from recent high
Oil is one of those assets that moves quietly until it doesn't. When $87 breaks, momentum traders will pile in fast.
$90 oil by end of August? 🛢️
#Oil #Commodities #WTI #DYOR
⚠️ Not financial advice. Always DYOR. Commodity markets carry significant risk.