📊TECHNICAL ANALYSIS ON 4-HOURS TIMEFRAME
Crude oil price didn’t show any strong move since morning, fluctuating around 85.00$ barrier, thus, no change to the expected bullish trend for today, supported by stochastic gain to the positive momentum gradually, depending on the price stability above 84.55, reminding you that our next main target extends to 88.70. The expected trading range for today is between 84.00 support and 87.00 resistance.
📊QUICK FUNDAMENTAL LOOK
Global oil prices rallied over 2% on Friday, resuming recovery efforts off two-week lows as the war in the Middle East grows more violent, potentially threatening crude supplies. Many energy analysts believe that oil prices for the upcoming duration will be linked to the Israel-Hamas war.
⚠️Warning: Trading contains elements of risk, please be careful when Making Orders, Market Recommendations are only for consideration.