Oil Prices Surge Amid Threat of Strike on IranOil Prices Surge Amid Threat of Strike on Iran
As shown on today’s XBR/USD chart, Brent crude oil prices have jumped (as indicated by the arrow) to a one-week high. This surge follows U.S. intelligence reports suggesting that Israel may be preparing to strike Iran’s nuclear facilities.
Although CNN, citing officials, noted that it remains unclear whether Israeli leaders have made a final decision, oil prices are rising as markets price in the risk of escalation disrupting Middle Eastern oil supply chains:
→ Iran is the third-largest oil producer within OPEC.
→ There is concern that Iran could retaliate by blocking the Strait of Hormuz in the Persian Gulf — a key shipping route used by Saudi Arabia, Kuwait, and others to export oil products.
Technical Analysis of XBR/USD
Brent crude oil price has climbed towards the descending trendline (marked in black), drawn through key highs from April and mid-May. From a bearish perspective, this key resistance could trigger a downward pullback.
On the other hand, recent price action in Brent suggests upward momentum (indicated by blue lines), with the $65.20 level — previously a cap — potentially turning into support after a breakout.
Whether the black resistance line is broken will largely depend on geopolitical developments. It is possible that reports of an imminent missile strike on Iran may later be refuted.
This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
Crudeoilanalysis
WTI Crude Oil Price Targets Fresh GainsWTI Crude Oil Price Targets Fresh Gains
WTI Crude oil prices are gaining bullish momentum and might even test $63.50.
Important Takeaways for WTI Crude Oil Price Analysis Today
- WTI Crude climbed above the $60.90 and $61.50 resistance levels.
- There is a key rising channel forming with support at $61.30 on the hourly chart of XTI/USD at FXOpen.
WTI Crude Oil Price Technical Analysis
On the hourly chart of WTI Crude Oil at FXOpen, the price started a fresh upward move from $60.10 against the US Dollar. The price gained bullish momentum after it broke the $60.90 resistance.
The bulls pushed the price above the 50% Fib retracement level of the downward move from the $63.45 swing high to the $60.08 low. The price even climbed above the 50-hour simple moving average.
It tested the $62.15 resistance zone and the 61.8% Fib retracement level of the downward move from the $63.45 swing high to the $60.08 low. There is now a key rising channel forming with support at $61.30.
The RSI is now near the 50 level and the price could aim for more gains. If the price climbs higher again, it could face resistance near $62.15. The next major resistance is near the $62.65 level. Any more gains might send the price toward the $63.45 level or even $65.00.
Conversely, the price might correct gains and test the $61.30 support level. The next major support on the WTI crude oil chart is near the $60.90 zone, below which the price could test the $60.10 zone.
If there is a downside break, the price might decline toward $58.50. Any more losses may perhaps open the doors for a move toward the $55.50 support zone.
This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
Market Analysis: WTI Crude Oil TumblesMarket Analysis: WTI Crude Oil Tumbles
WTI Crude oil is down over 10% and remains at risk of more losses.
Important Takeaways for WTI Crude Oil Price Analysis Today
- WTI Crude oil prices extended downsides below the $60.00 support zone.
- A major bearish trend line is forming with resistance near $57.25 on the hourly chart of XTI/USD at FXOpen.
WTI Crude Oil Price Technical Analysis
On the hourly chart of WTI Crude Oil at FXOpen, the price struggled to continue higher above $60.00 against the US Dollar. The price formed a short-term top and started a fresh decline below $58.00.
There was a steady decline below the $57.75 pivot level. The bears even pushed the price below $56.20 and the 50-hour simple moving average. Finally, the price tested the $55.00 zone. The recent swing low was formed near $55.01, and the price is now consolidating losses.
There was a minor move above the $55.50 level. On the upside, immediate resistance is near the $56.10 level and the 23.6% Fib retracement level of the downward move from the $59.49 swing high to the $55.01 low.
The next resistance is near the $57.25 level. There is also a major bearish trend line forming with resistance near $57.25. The trend line is near the 50% Fib retracement level of the downward move from the $59.49 swing high to the $55.01 low.
The main resistance is near a trend line at $57.75. A clear move above the $57.75 zone could send the price toward $59.45. The next key resistance is near $62.25. If the price climbs further higher, it could face resistance near $63.20. Any more gains might send the price toward the $65.00 level.
Immediate support is near the $55.00 level. The next major support on the WTI crude oil chart is near $53.00. If there is a downside break, the price might decline toward $52.00. Any more losses may perhaps open the doors for a move toward the $50.00 support zone.
This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
Crude Oil Stabilizes Above Key Fibonacci LevelFenzoFx—Crude Oil is consolidating after testing $63.9 resistance, trading near $62.23, supported by the 50.0% Fibonacci retracement.
While the bullish trend persists above the 50-period simple moving average, the Stochastic Oscillator shows an oversold condition, hinting at a rebound.
A bullish wave may target $64.00 if Oil holds above $62.00. However, if it dips below this level, momentum could extend down to $60.77, near the 78.6% Fibonacci retracement.
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Market Analysis: WTI Crude Oil Rebounds in TandemMarket Analysis: WTI Crude Oil Rebounds in Tandem
WTI Crude oil prices climbed higher above $60.00 and might extend gains.
Important Takeaways for WTI Crude Oil Price Analysis Today
- WTI Crude oil prices started a recovery wave above the $60.00 and $61.50 resistance levels.
- There was a break below a connecting bullish trend line with support at $63.00 on the hourly chart of XTI/USD at FXOpen.
Oil Price Technical Analysis
On the hourly chart of WTI Crude Oil at FXOpen, the price started a recovery wave from $58.40 against the US Dollar. The price gained bullish momentum after it broke the $60.00 resistance and the 50-hour simple moving average.
The bulls pushed the price above the $61.50 and $62.00 resistance levels. The recent high was formed at $64.20 and the price started a downside correction. There was a minor move below the 23.6% Fib retracement level of the upward move from the $59.87 swing low to the $64.18 high.
There was a break below a connecting bullish trend line with support at $63.00. The RSI is now below the 50 level. Immediate support on the downside is near the $62.0 zone or the 50% Fib retracement level of the upward move from the $59.87 swing low to the $64.18 high.
The next major support on the WTI crude oil chart is near the $61.50 zone, below which the price could test the $59.90 level. If there is a downside break, the price might decline toward $58.40. Any more losses may perhaps open the doors for a move toward the $56.20 support zone.
If the price climbs higher again, it could face resistance near $64.20. The next major resistance is near the $65.00 level. Any more gains might send the price toward the $68.50 level.
This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
Crude Oil AnalysisFenzoFx—Crude Oil started a bullish wave from $55.15, trading at around $62.20. Momentum slowed near $63.90 resistance.
The Stochastic Oscillator indicates short-term overpricing as Crude Oil remains below $63.90, keeping the bearish trend intact. Price may dip toward $58.90 support, with further pressure potentially driving it to $55.15.
If Crude Oil surpasses $63.90, the bearish outlook invalidates, targeting $65.10 resistance.
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Crude Oil Found Support: What's Next?FenzoFx—Crude oil tested the $58.9 level as support and bounced back from it. The primary trend is bearish; therefore, it will likely resume if the price closes and stabilizes below this support.
If this scenario unfolds, the next bearish target could be the $55.15 support level.
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Market Analysis: WTI Crude Oil Crashes As Trade War EscalatesMarket Analysis: WTI Crude Oil Crashes As Trade War Escalates
WTI Crude oil is down over 10% and remains at risk of more losses.
Important Takeaways for WTI Crude Oil Prices Analysis Today
- WTI Crude oil prices extended downsides below the $65.00 support zone.
- A major bearish trend line is forming with resistance near $60.70 on the hourly chart of XTI/USD at FXOpen.
WTI Crude Oil Price Technical Analysis
On the hourly chart of WTI Crude Oil at FXOpen, the price struggled to continue higher above $72.00 against the US Dollar. The price formed a short-term top and started a fresh decline below $70.00.
There was a steady decline below the $65.60 pivot level. The bears even pushed the price below $62.20 and the 50-hour simple moving average. Finally, the price tested the $59.20 zone. The recent swing low was formed near $59.21, and the price is now consolidating losses.
There was a minor move above the $60.00 level. On the upside, immediate resistance is near the $60.70 level. There is also a major bearish trend line forming with resistance near $60.70.
The next resistance is near the $62.20 level and the 23.6% Fib retracement level of the downward move from the $71.97 swing high to the $59.21 low. The main resistance is near a trend line at $65.60.
The 50% Fib retracement level of the downward move from the $71.97 swing high to the $59.21 low is also near $65.60. A clear move above the $65.60 zone could send the price toward $68.70. The next key resistance is near $71.85. If the price climbs further higher, it could face resistance near $72.20. Any more gains might send the price toward the $75.00 level.
Immediate support is near the $59.20 level. The next major support on the WTI crude oil chart is near $58.00. If there is a downside break, the price might decline toward $55.00. Any more losses may perhaps open the doors for a move toward the $52.00 support zone.
This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
Crude Oil Dipped, Testing Critical Support Level FenzoFx—Crude oil dropped from $72.20 and is now testing the $68.8 support. The decline was expected as the Stochastic oscillator signaled overbought conditions.
If $68.8 breaks, the downtrend could extend to $67.6.
Bullish Scenario : However, a higher low above $70.15 would invalidate the bearish outlook, potentially pushing prices back to $72.20.
CFD on WTI CRUDEOIL (US OIL)ITS A T4HR TRADE FOR USOIL
1. Got Activated.
2. Stop loss @ 69.65 and resp. Target 1 @ 69.65 and Target 2 @ 67.59
3. Its a swing trade for 1 week trade working days duration.
4. Kindly make your orders accordingly to the duration period mentioned.
God bless. Happy trading Days
Market Analysis: WTI Crude Oil Face HurdlesMarket Analysis: WTI Crude Oil Face Hurdles
Crude oil is attempting a recovery wave but upsides could be limited.
Important Takeaways for WTI Crude Oil Price Analysis Today
- WTI Crude oil prices started a recovery wave from the $66.00 support zone.
- There is a key bullish trend line forming with support at $67.50 on the hourly chart of XTI/USD at FXOpen.
WTI Crude Oil Price Technical Analysis
On the hourly chart of WTI Crude Oil at FXOpen, the price remained in a bearish zone below the $70.00 level against the US Dollar. The price started a fresh decline below the $68.00 support.
The price even dipped below the $67.50 level and the 50-hour simple moving average. Finally, the bulls appeared near $66.00 and the price started a recovery wave. The price recovered above $67.50 and tested the $68.50 zone.
The price is now consolidating gains below the 23.6% Fib retracement level of the upward move from the $66.54 swing low to the $68.48 high. There is also a key bullish trend line forming with support at $67.50.
If there is a fresh increase, it could face resistance near the $68.30 level. The first major resistance is near the $68.50 level. Any more gains might send the price toward the $69.20 level.
The main resistance could be near the $70.00 level. Conversely, the price might continue to move down and revisit the $67.50 support and the 50% Fib retracement level of the upward move from the $66.54 swing low to the $68.48 high. The next major support on the WTI crude oil chart is $67.00.
If there is a downside break, the price might decline toward $66.55. Any more losses may perhaps open the doors for a move toward the $66.10 support zone.
This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
Light Crudeoil Futures hourly trend forecast for March 24, 2025According to my analysis, this commodity is at its strong resistance at 68.46 and the likely support levels are at 67.56 and 66.83.
According to my "Advanced Market Timing" indicator, Light Crudeoil Futures is likely to see a bearish trend and then bounce back.
Those who trade are suggested to use your own technical studies for entries, stops and exits.
Oil Prices Plummet as Trade Tensions RiseOil prices took a hit after Trump's tariffs were announced, and it's essential to understand the reasoning behind this drop.
When US imposed tariffs on Chinese goods, China retaliated by placing tariffs on US goods, including oil. This move led to a decrease in oil demand from China, which is the world's largest oil importer. As a result, oil prices plummeted.
◉ Key Factors Behind the Decline
● Trade Tensions: The escalation of trade tensions between the US and China led to a decrease in oil demand, causing prices to drop.
● China's Tariffs on US Oil: China's decision to impose tariffs on US oil imports reduced demand for US oil, contributing to the price decline.
● Global Economic Slowdown: The ongoing trade tensions and tariffs have led to a slowdown in global economic growth, further reducing oil demand and prices.
● Increased Oil Production: The US has been increasing its oil production, leading to a surplus in the market and contributing to the decline in oil prices.
◉ Technical Observations
● A notable decline in oil prices has been observed since mid-January 2025.
● Prices are currently hovering near the critical support zone around $66, a level that has historically provided a floor for prices.
● If this support level is breached, it may trigger a further decline in oil prices.
Market Analysis: Oil Price Eyes RecoveryMarket Analysis: Oil Price Eyes Recovery
Crude oil price is recovering and it could climb further higher toward the $71.80 resistance.
Important Takeaways for Oil Price Analysis Today
- Crude oil prices are moving higher above the $68.90 resistance zone.
- There is a connecting bullish trend line forming with support at $69.50 on the hourly chart of XTI/USD at FXOpen.
Oil Price Technical Analysis
On the hourly chart of WTI Crude Oil at FXOpen, the price started a decent increase against the US Dollar. The price gained bullish momentum after it broke the $68.90 resistance.
The bulls pushed the price above the 50-hour simple moving average and the RSI climbed toward 65. There was a clear move above the 50% Fib retracement level of the downward move from the $71.12 swing high to the $68.24 low.
Immediate resistance is near the $70.45 level. It is close to the 76.4% Fib retracement level of the downward move from the $71.12 swing high to the $68.24 low.
If the price climbs further higher, it could face resistance near $71.10. The next major resistance is near the $71.80 level. Any more gains might send the price toward the $72.50 level.
Conversely, the price might correct gains and test the $69.50 support. There is also a connecting bullish trend line forming with support at $69.50 and the 50-hour simple moving average.
The next major support on the WTI crude oil chart is near the $68.90 level. If there is a downside break, the price might decline toward $68.25. Any more losses may perhaps open the doors for a move toward the $66.50 support zone.
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Crude Oil Technical Outlook: Range Breakdown & Next Targets🔹Key Observations:
1. Range Formation & Breakout:
- The price was consolidating within a range (highlighted in the pink box).
- A range breakout trading setup is identified.
- The price has broken below the range support, signaling potential downside momentum.
2. Breakout Confirmation:
- The price has moved below a key support area (marked in blue).
- The breakdown indicates a potential continuation of the downtrend.
3. Downside Targets:
- 1st Target: $68.00 (first green line).
- 2nd Target: $67.05 (second green line).
- If the price sustains below the breakout level, these targets could be reached.
4. Volume Analysis:
- The volume bar at the bottom suggests increased selling pressure.
- The breakout occurred with notable volume, which confirms bearish sentiment.
▪️Technical Outlook:
- Bearish Bias: The chart suggests a bearish move with downside targets aligned at $68.00 and $67.05.
- Watch for Retest: If the price pulls back toward the breakout zone, it may confirm the breakdown before further decline.
- Invalidation Level: A strong recovery back above the blue support zone could invalidate the bearish setup.
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Market Analysis: WTI Crude Oil StrugglesMarket Analysis: WTI Crude Oil Struggles
Crude oil is showing bearish signs and might decline below $70.00.
Important Takeaways for WTI Crude Oil Price Analysis Today
- WTI Crude oil prices failed to clear the $73.50 region and started a fresh decline.
- There is a key bearish trend line forming with resistance at $71.00 on the hourly chart of XTI/USD at FXOpen.
WTI Crude Oil Price Technical Analysis
On the hourly chart of WTI Crude Oil at FXOpen, the price struggled to clear the $73.50 resistance zone against the US Dollar. The price started a fresh decline below the $72.20 support.
The price even dipped below the $71.50 level and the 50-hour simple moving average. The bulls are now active near the $70.20 level. A low was formed at $70.12, and the price is now consolidating losses. If there is a fresh increase, it could face resistance near the 50% Fib retracement level of the downward move from the $71.87 swing high to the $70.12 low at $71.00.
There is also a key bearish trend line forming with resistance at $71.00. The first major resistance is near the $71.85 level. Any more gains might send the price toward the $72.20 level.
The main resistance could be near the $73.35 level. Conversely, the price might continue to move down and revisit the $70.00 support. The next major support on the WTI crude oil chart is $68.80.
If there is a downside break, the price might decline toward $66.50. Any more losses may perhaps open the doors for a move toward the $65.00 support zone.
Trade on TradingView with FXOpen. Consider opening an account and access over 700 markets with tight spreads from 0.0 pips and low commissions from $1.50 per lot.
This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
Us Oi moveUS oil is bullish untill not break the trendline, It's is taking support of trendline on daily timeframe, if it breaks the Trend line then another trendline will be support. Here are the levels as per price action.
Note: I am not SEBI REGISTERED analist, this is my personal view only for education purpose.
Oil Market Heats Up: Prices Rise for Third Consecutive Week◉ Key Factors Driving Oil Prices:
1. Increased Winter Fuel Demand: As temperatures drop in the Northern Hemisphere, demand for heating fuels like diesel and gasoline is rising, supporting oil prices.
2. Supply Constraints: OPEC+ has been maintaining production cuts, limiting global oil supply and contributing to higher prices.
◉ Market Updates:
● Over the past three weeks, Brent crude BLACKBULL:BRENT has surged over 6%, and WTI OANDA:WTICOUSD has jumped more than 7%.
◉ Technical Observations:
● The oil price has broken through its long-term trendline resistance, positioning itself for further gains.
◉ Future Outlook:
● JPMorgan predicts a 1.6 million barrels per day increase in global oil demand in Q1 2025, driven by heating oil and LPG demands.
● Geopolitical factors, including new U.S. sanctions on Russia, may impact supply dynamics.