Oil at $84.67 in a strong uptrend while equities wobble. Is this the inflation trade returning?

📊 Technical Snapshot:
→ Price: $84.67 (+1.29%) | RSI: 54.3 (neutral-bullish)
→ Trend: Strong uptrend, above SMA5 ($82.92), SMA20 ($80.28), SMA50 ($82.21)
→ MACD: Positive at +1.33 with expanding histogram (+0.27)
→ Volume: 235K contracts (1.17x average)

🔍 Key Logic:
Geopolitical tensions and supply constraints are supporting oil prices. The technical picture is constructive — price above all major MAs with RSI in bullish territory but not overbought. MACD histogram expanding confirms momentum.

📌 Key Levels:
→ Support: $80.28 (SMA20 — buy zone on pullbacks)
→ Deep Support: $70.44 (major demand zone)
→ Resistance: $101.17 (3-month high area)
→ Watch: $85.11 (SMA10) — a break above opens $90+

⚡ Macro angle: If oil breaks above $90, inflation expectations will repricing higher, which is bearish for risk assets including crypto.

Is $100 oil inevitable this year? 👇

⚠️ Not financial advice. DYOR. Commodities carry risk.

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