Technical Analysis
On the 1H chart, a clear Cup pattern is forming.
Key points:
• U-shaped structure completed
• Resistance at $113–114
• Small pullback (handle) forming
• Moving average acting as support
Short-Term Scenarios
Bullish Breakout
If price breaks and holds above $114:
Targets:
$118
$122
$126
Stop loss
$108
Bearish Rejection
If price gets rejected:
Targets:
$104
$100
$96
Stop loss
$115
Key Insights
• Cup pattern near completion
• Strong resistance zone
• High probability of volatile move
• Risk of fake breakout
Fundamental Overview
Key drivers:
• OPEC supply decisions
• Geopolitical tensions
• Global demand
• US oil inventories
Final Insight
Above $114 → strong bullish breakout
Below $108 → corrective move
On the 1H chart, a clear Cup pattern is forming.
Key points:
• U-shaped structure completed
• Resistance at $113–114
• Small pullback (handle) forming
• Moving average acting as support
Short-Term Scenarios
Bullish Breakout
If price breaks and holds above $114:
Targets:
$118
$122
$126
Stop loss
$108
Bearish Rejection
If price gets rejected:
Targets:
$104
$100
$96
Stop loss
$115
Key Insights
• Cup pattern near completion
• Strong resistance zone
• High probability of volatile move
• Risk of fake breakout
Fundamental Overview
Key drivers:
• OPEC supply decisions
• Geopolitical tensions
• Global demand
• US oil inventories
Final Insight
Above $114 → strong bullish breakout
Below $108 → corrective move
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.
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.