Crude Oil trades between Israel-Iran-Conflict supply risks, overbought momentum, and the potential for a 3-year channel breakout.
While upside risks from a possible Strait of Hormuz closure remain uncertain, a firm hold above $78 could extend gains toward $80 and $83.50, keeping oil on a bullish edge for H2 2025.
A pullback into the channel may ease inflation concerns and reassert bearish pressure below the $80 mark. Key support lies at $72 for a potential downside resumption.
- Razan Hilal, CMT
While upside risks from a possible Strait of Hormuz closure remain uncertain, a firm hold above $78 could extend gains toward $80 and $83.50, keeping oil on a bullish edge for H2 2025.
A pullback into the channel may ease inflation concerns and reassert bearish pressure below the $80 mark. Key support lies at $72 for a potential downside resumption.
- Razan Hilal, CMT
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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.