Oil Little Changed, With Focus on U.S.–Russia Meeting
Oil prices were steady in afternoon trade as markets awaited Friday’s meeting between U.S. President Trump and Russian President Putin, which could potentially pave the way for a Ukraine peace deal.
Oil has fallen over 10% this year, pressured by OPEC+ restoring production faster than planned and by weakening global demand prospects.
Technical Outlook:
The price maintains a bearish bias while trading below 64.70, targeting 63.45 and 61.85, with further downside toward 60.20 if broken.
However, market direction could shift sharply depending on the outcome of Friday’s meeting.
A move above 64.75 would target 65.80, and a breakout beyond this could trigger bullish momentum toward 67.20 and 69.10.
Pivot: 64.70
Support: 63.45, 61.85, 60.20
Resistance: 65.80, 67.20, 69.10
Oil prices were steady in afternoon trade as markets awaited Friday’s meeting between U.S. President Trump and Russian President Putin, which could potentially pave the way for a Ukraine peace deal.
Oil has fallen over 10% this year, pressured by OPEC+ restoring production faster than planned and by weakening global demand prospects.
Technical Outlook:
The price maintains a bearish bias while trading below 64.70, targeting 63.45 and 61.85, with further downside toward 60.20 if broken.
However, market direction could shift sharply depending on the outcome of Friday’s meeting.
A move above 64.75 would target 65.80, and a breakout beyond this could trigger bullish momentum toward 67.20 and 69.10.
Pivot: 64.70
Support: 63.45, 61.85, 60.20
Resistance: 65.80, 67.20, 69.10
Technical analyst focused on gold, indices, and forex.
Providing regular updates with structure, entry/exit clarity, and real-time outlooks.
More at: sroshmayi.com/
Providing regular updates with structure, entry/exit clarity, and real-time outlooks.
More at: sroshmayi.com/
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Technical analyst focused on gold, indices, and forex.
Providing regular updates with structure, entry/exit clarity, and real-time outlooks.
More at: sroshmayi.com/
Providing regular updates with structure, entry/exit clarity, and real-time outlooks.
More at: sroshmayi.com/
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.