Crude Oil Eyes 65.40 Support Amid Middle East Uncertainty!!Hey Traders,
In today’s trading session, we’re closely monitoring USOIL for a potential buying opportunity around the 65.40 zone. The commodity remains in an overall uptrend, and is currently undergoing a corrective phase, approaching a key support/resistance area near 65.40. This level aligns well with the broader trend structure and may offer a favorable risk-to-reward setup.
On the fundamental side, geopolitical tensions are on the rise. Reports indicate that U.S. embassy personnel are being evacuated from parts of the Middle East amid growing regional instability. Allegedly, Israel is preparing for potential military action against Iran should nuclear deal talks collapse.
If these tensions escalate further into military conflict, oil prices could spike in response to the heightened risk to regional supply chains.
Trade safe,
Joe
