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Oil Prices EXPLODE: The Shocking Surge That Could Change Everything!

Hold on to your wallets! Just last Thursday, oil prices JUMPED from a mere $67 to a jaw-dropping $76.28 in a whirlwind session. But guess what? That dizzying momentum fizzled out faster than a balloon at a party!

Ballistic Drama UNFOLDS!

Since that explosive rise, the market has been bombarded with SEVERE updates! We’re talking about hundreds of ballistic missile launches met by retaliatory airstrikes. It’s an all-out high-stakes chess game, and the tension is palpable!

But wait—there’s MORE! The trend of profit-taking has left oil clinging to those recent highs like a lifeguard on a sinking ship—until just yesterday!

U.S. Military Involvement LOOMING!

Speculation is heating up like a pressure cooker, with whispers that U.S. involvement in this chaotic conflict could erupt any day now! If that bombshell drops, the geopolitical stakes could SKYROCKET, especially if other nations throw their hats in the ring. It’s a nail-biter, folks, and the tension is rising!

As U.S. markets close for Juneteenth, index futures are still active and most are trading lower! European equities are also hanging in the red, signaling a more cautious tone.

Oil’s Crazy Rollercoaster Ride!

Just yesterday, oil prices swung wildly between $72 and $75! This volatile dance is only heating up, so keep your eyes peeled!

Let’s dive into the charts to discover where this wild ride could take us next!

WTI Oil Intraday Charts: THE BIG REVEAL!

4-Hour Chart: Where Are We Headed?

The latest 4-hour charts are showing a consolidation pattern. Whoa! With RSI momentum lingering firmly in OVERBOUGHT territory, prices are racing ahead while key moving averages lag well behind.

As the war drums beat louder, expectations of reduced supply (especially from Iran) are keeping oil prices at dizzying heights. Any further escalation? Buckle up, because that could send prices through the ROOF!

If tensions ease? Don’t hold your breath—it feels like a pipe dream right now.

Resistance on the Horizon!

If the market breaks out? Fibonacci extensions reveal the NEXT resistance zone is lurking between $78.20 and $79.00.

1-Hour Chart: The Cliffhanger Continues!

Oil has bounced off the crucial $72 mark—now a vital support level. Sellers were unable to breach this line, especially post-FOMC rate decision. That opened the door wide for a move towards the $75 to $76 resistance zone!

Momentum on the 1-hour chart suggests a slower, but STEADY uptrend could be brewing. But keep those peepers peeled on the 1H 50-period moving average; it’s the magic line to watch! A breach below? Renewed selling pressure could sweep the market!

15-Minute Chart: The Ticking Time Bomb!

15-minute charts are teasing a bullish consolidation. The overnight rebound off the $75 mark has everyone on the edge of their seats. That 50-period moving average? It’s the inflection point we can’t ignore!

What happens next? An upside breakout could lead to tantalizing targets around $77.50! But a failed breakout would throw us right back to retesting the $72–$73 zone, which is now a key support after being resistance.

Brace yourselves and stay tuned for MORE ACTION! Safe trades await the daring!