👉🏼 Possible scenario:
Oil prices climbed on May 26 after President Trump extended the EU trade deal deadline to July 9, easing concerns over potential U.S. tariffs.
Brent and WTI rose on May 23 as stalled U.S.-Iran nuclear talks dimmed hopes for increased Iranian oil supply, while U.S. buyers covered positions ahead of the Memorial Day weekend. However, gains were limited by expectations that OPEC+ could raise output in July. With the U.S. Memorial Day holiday slowing trading, markets remain sensitive to trade developments and potential supply changes. With holiday-thinned trading, markets remain focused on trade headlines and supply signals.
✅ Support and Resistance Levels
Now, the support level is located at 63.20.
Resistance level is now located at 66.30 .
Oil prices climbed on May 26 after President Trump extended the EU trade deal deadline to July 9, easing concerns over potential U.S. tariffs.
Brent and WTI rose on May 23 as stalled U.S.-Iran nuclear talks dimmed hopes for increased Iranian oil supply, while U.S. buyers covered positions ahead of the Memorial Day weekend. However, gains were limited by expectations that OPEC+ could raise output in July. With the U.S. Memorial Day holiday slowing trading, markets remain sensitive to trade developments and potential supply changes. With holiday-thinned trading, markets remain focused on trade headlines and supply signals.
✅ Support and Resistance Levels
Now, the support level is located at 63.20.
Resistance level is now located at 66.30 .
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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.