CFD Petrolio WTI
Long

USOIL - REVERSING FROM SUPPORT

117
Oil prices ticked up in early trade and currently continue at the bullish trend after falling in the previous session until 68.64 as investors took stock of a potential ceasefire between Israel and Hezbollah, weighing on oil’s risk premium.

Generally, the direction is uptrend

Uptrend Side: Oil prices are showing bullish momentum, reinforcing projections of continued gains in the near term. The price is on track to reach our expected target of $70.51, with a breakout above this level likely to drive the upward wave further toward $71.74.

Downtrend Side: Conversely, a break below $68.64 would disrupt the upward momentum and prompt a shift toward a downward trend.

Tendency Keys: 68.64

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