đąïž WTI Crude at $87 and climbing. +27% off its 3-month low with strong trend structure.
Oil just doesn't care about your recession fears right now.
đ The Picture:
âą RSI: 59 â bullish but not overbought
âą Trend: strong uptrend across all timeframes
âą SMA5 > SMA10 > SMA20 > SMA50 â perfect alignment
âą Price: $87.06, approaching 3-month high of $96.60
đŻ The Bull Case:
Supply discipline from OPEC+ is holding. Meanwhile, global demand isn't collapsing despite rate concerns. The strategic petroleum reserve refill cycle provides a structural bid. And geopolitical risk premium never fully disappears from oil.
đ Key Levels:
âą Support: $82-$84 (SMA10-SMA20 zone)
âą Resistance: $92-$97 (3-month high zone)
âą Break above $97 opens the path to $100+
â ïž Watch for: Declining volume on the push higher. If volume doesn't confirm, the move may stall.
Oil to $100 this year? Supply shock or demand destruction wins? đ
#Oil #Commodities #DYOR
âïž Disclaimer: Not financial advice. Commodities are volatile. DYOR.
Oil just doesn't care about your recession fears right now.
đ The Picture:
âą RSI: 59 â bullish but not overbought
âą Trend: strong uptrend across all timeframes
âą SMA5 > SMA10 > SMA20 > SMA50 â perfect alignment
âą Price: $87.06, approaching 3-month high of $96.60
đŻ The Bull Case:
Supply discipline from OPEC+ is holding. Meanwhile, global demand isn't collapsing despite rate concerns. The strategic petroleum reserve refill cycle provides a structural bid. And geopolitical risk premium never fully disappears from oil.
đ Key Levels:
âą Support: $82-$84 (SMA10-SMA20 zone)
âą Resistance: $92-$97 (3-month high zone)
âą Break above $97 opens the path to $100+
â ïž Watch for: Declining volume on the push higher. If volume doesn't confirm, the move may stall.
Oil to $100 this year? Supply shock or demand destruction wins? đ
#Oil #Commodities #DYOR
âïž Disclaimer: Not financial advice. Commodities are volatile. DYOR.