Oil at $83.14 — an uptrend that most people are ignoring 🛢️
📊 Technical Snapshot:
Price: $83.14 (+1.11%)
RSI: 51.8 (neutral — tons of room)
Trend: Uptrend on daily chart
MACD: Bullish and expanding (+0.157)
Volume: Normal (0.99x ratio)
🎯 Why It Matters:
WTI is 21.3% off its 3-month low with a clean uptrend structure. Price is above SMA20 ($82.35) and SMA50 ($79.17), but still below SMA5 ($84.04) and SMA10 ($84.57) — creating a near-term resistance zone. RSI at 51.8 is as neutral as it gets, meaning the next catalyst will determine direction.
📌 Key Levels:
Support: $70.44 (strong floor)
Resistance: $90.54
Entry sweet spot: $82-$83 on pullback to SMA20
💡 Oil doesn't get the attention crypto does, but steady trends = steady profits.
Bullish or bearish on oil for September? 👇
#CrudeOil #Commodities #DYOR
⚠️ Disclaimer: This is not financial advice. Always DYOR and manage your risk.
📊 Technical Snapshot:
Price: $83.14 (+1.11%)
RSI: 51.8 (neutral — tons of room)
Trend: Uptrend on daily chart
MACD: Bullish and expanding (+0.157)
Volume: Normal (0.99x ratio)
🎯 Why It Matters:
WTI is 21.3% off its 3-month low with a clean uptrend structure. Price is above SMA20 ($82.35) and SMA50 ($79.17), but still below SMA5 ($84.04) and SMA10 ($84.57) — creating a near-term resistance zone. RSI at 51.8 is as neutral as it gets, meaning the next catalyst will determine direction.
📌 Key Levels:
Support: $70.44 (strong floor)
Resistance: $90.54
Entry sweet spot: $82-$83 on pullback to SMA20
💡 Oil doesn't get the attention crypto does, but steady trends = steady profits.
Bullish or bearish on oil for September? 👇
#CrudeOil #Commodities #DYOR
⚠️ Disclaimer: This is not financial advice. Always DYOR and manage your risk.