USOIL – Bullish Outlook Amid Geopolitical and Policy Factors
The ongoing escalation in the Middle East, combined with Jerome Powell's stance on holding interest rates steady, continues to support bullish momentum across commodities, including oil.
Technical Outlook:
USOIL remains bullish as long as it trades above 72.72 and more firmly above 70.40, with upside potential toward 77.30 and 79.50. If bullish momentum persists, a further extension to 84.14 is possible, supported by geopolitical risks.
A bearish shift is only likely if significant de-escalation or negotiations between Israel and Iran take place.
Key Levels:
• Pivot Point: 72.90
• Resistance: 77.29, 79.50, 84.10
• Support: 66.87, 63.52, 59.00
Trend Outlook:
Bullish while price holds above 68.53
The ongoing escalation in the Middle East, combined with Jerome Powell's stance on holding interest rates steady, continues to support bullish momentum across commodities, including oil.
Technical Outlook:
USOIL remains bullish as long as it trades above 72.72 and more firmly above 70.40, with upside potential toward 77.30 and 79.50. If bullish momentum persists, a further extension to 84.14 is possible, supported by geopolitical risks.
A bearish shift is only likely if significant de-escalation or negotiations between Israel and Iran take place.
Key Levels:
• Pivot Point: 72.90
• Resistance: 77.29, 79.50, 84.10
• Support: 66.87, 63.52, 59.00
Trend Outlook:
Bullish while price holds above 68.53
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.