From a technical perspective, the daily chart structure indicates that the market has re-entered a strong upward channel, with bullish momentum showing a marked increase; however, it also signals a certain degree of short-term overbought risk. The low point established during the previous pullback serves as a critical short-term support level; currently, key support is situated near $95. Conversely, overhead resistance is concentrated around the psychological threshold of $112 and the area of previous highs. Should the price achieve a decisive breakout and firmly establish itself above $112, it could open up further upside potential, potentially testing the $119 region. Conversely, if the price surges only to retreat—breaking below $95—it may enter a phase of technical correction to partially fill the existing price gap.
Key Factors: Short-term price movements remain highly contingent upon developments in the geopolitical landscape. Should the conflict continue to escalate, oil prices could advance further and breach key resistance levels; conversely, if signs of de-escalation emerge, oil prices could undergo a sharp correction.
Key Factors: Short-term price movements remain highly contingent upon developments in the geopolitical landscape. Should the conflict continue to escalate, oil prices could advance further and breach key resistance levels; conversely, if signs of de-escalation emerge, oil prices could undergo a sharp correction.
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