The price is currently on strong support. 1d n 4h forming a double bottom. US inflation increased in the month of July meaning dollar still weak.
Oil is currently on up trend which is expected to continue. From the technical analysis , the prices are on a resistance that was successfully broken in 2022. From fundamental analysis, Russia is set to raise oil export duty to highest this year, there is also cut from OPEC+ and Saudi Arabia with raising global demand .