Following the increasing possibility of further tensions in the Middle East, crude oil(
USDBRO) has gained more than +8% over the past 24 hours. If oil manages to remain above the psychological level of $100, it could continue its bullish trend.
Over the past 15 days, crude oil has been moving inside an ascending channel. It is currently trading above $100 and has successfully broken above the resistance zone($99.50-$96.00).
From an Elliott Wave perspective, it appears that crude oil is currently completing main wave 3, which could potentially end around the Potential Reversal Zone (PRZ)[$104.40-$102.60].
I expect crude oil to continue its bullish move toward at least the $105 level. If oil manages to break the key trading level of $107, we could expect further upside toward the resistance lines.
First Target: $105.00
Second Target: $107.00
Third Target: Resistance lines
Stop Loss(SL): $95.60(Worst)
Points may shift as the market evolves
Gap: $95.16-$93.76
Gap: $79.50-$77.22
What’s your view on crude oil? Do you think oil can hold above the $100 level and continue its bullish momentum?
Note: Any news, statements, or developments related to the ongoing Middle East tensions could quickly affect Oil’s price.
💡 Please respect each other's opinions and express agreement or disagreement politely.
📌U.S. Dollar/Brent Crude OIL Analysis (USDBRO), 4-hour time frame.
🛑 Always set a Stop Loss(SL) for every position you open.
✅ This is just my idea; I’d love to see your thoughts too!
🔥 If you find it helpful, please BOOST this post and share it with your friends.
USDBRO) has gained more than +8% over the past 24 hours. If oil manages to remain above the psychological level of $100, it could continue its bullish trend.Over the past 15 days, crude oil has been moving inside an ascending channel. It is currently trading above $100 and has successfully broken above the resistance zone($99.50-$96.00).
From an Elliott Wave perspective, it appears that crude oil is currently completing main wave 3, which could potentially end around the Potential Reversal Zone (PRZ)[$104.40-$102.60].
I expect crude oil to continue its bullish move toward at least the $105 level. If oil manages to break the key trading level of $107, we could expect further upside toward the resistance lines.
First Target: $105.00
Second Target: $107.00
Third Target: Resistance lines
Stop Loss(SL): $95.60(Worst)
Points may shift as the market evolves
Gap: $95.16-$93.76
Gap: $79.50-$77.22
What’s your view on crude oil? Do you think oil can hold above the $100 level and continue its bullish momentum?
Note: Any news, statements, or developments related to the ongoing Middle East tensions could quickly affect Oil’s price.
💡 Please respect each other's opinions and express agreement or disagreement politely.
📌U.S. Dollar/Brent Crude OIL Analysis (USDBRO), 4-hour time frame.
🛑 Always set a Stop Loss(SL) for every position you open.
✅ This is just my idea; I’d love to see your thoughts too!
🔥 If you find it helpful, please BOOST this post and share it with your friends.
Transaction en cours
Oil Fundamental Outlook
Oil prices are under pressure after the temporary pause in U.S.–Iran strikes and signs of progress in diplomatic negotiations reduced fears of an immediate supply disruption through the Strait of Hormuz. Brent fell toward $91, while WTI declined toward $84.
However, risks remain elevated as attacks on tankers and continued instability around the Strait of Hormuz and Bab al-Mandeb could quickly restore the geopolitical risk premium.
My short-term outlook is neutral-to-bearish as long as diplomacy continues, but any renewed escalation could push oil rapidly back toward $100.
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From a technical perspective, Crude Oil opened today with a significant bearish gap between $93.24 and $98.25. It also broke below the ascending channel and is currently trading near $90, below the former support zone at $89.50–$91.40.
The $87.30 level is the first important short-term support, while $85.40 remains the key trading and invalidation level. As long as oil holds above $87.30, the possibility of another bullish attempt remains valid. However, a confirmed breakdown below this level could open the way for a deeper correction toward $85.40.
Since oil is currently highly sensitive to geopolitical headlines, traders should apply stricter risk and capital management than usual.
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🎁 Free VIP Forex and Crypto Signals, please visit:
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Publications connexes
Clause de non-responsabilité
Les informations et publications ne sont pas destinées à être, et ne constituent pas, des conseils ou recommandations financiers, d'investissement, de trading ou autres fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.
🚀 Up to 75% Trading Fee Rebates Across 20+ Exchanges:
🤖 t.me/Protrader365bot
-----
🎁 Free VIP Forex and Crypto Signals, please visit:
🔗 t.me/ProTrader_365
🤖 t.me/Protrader365bot
-----
🎁 Free VIP Forex and Crypto Signals, please visit:
🔗 t.me/ProTrader_365
Publications connexes
Clause de non-responsabilité
Les informations et publications ne sont pas destinées à être, et ne constituent pas, des conseils ou recommandations financiers, d'investissement, de trading ou autres fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.