OIL PRICE DRAMA! IS IT IN FOR A SPECTACULAR SHAKEUP OR A DEPRESSING FLATLINE?

Hold onto your hard hats, folks! The oil market is a rollercoaster of tensions, yet right now, it’s stuck in a bizarre limbo! Ever since the explosive Israel-Iran War, the thrilling ride of Black Gold has hit the brakes—no fireworks, no jaw-dropping curves—just a month-long snooze fest!

But wait—things don’t seem to be changing anytime soon! With tariffs dragging like an anchor, it feels like we’re tied up in a never-ending tangle. Are we on the verge of doom or can we expect some thrilling turns?

On the upside, those crafty businesses are already plotting their escape routes! Global trade is looking up, as savvy traders reroute their supply lines like expert strategists, hoping to dodge future price hikes like pros!

Drumroll, please! Oil prices are still up by a whopping 6% compared to the May slump—who’d have thought? Prices are dancing in the $60.5 to $64 range, but can they climb even higher? Only time will tell!

US OIL TECHNICAL UPDATE: WHERE DO WE GO FROM HERE?

CHECK OUT THE WTI DAILY CHART!

Prices are playing a dangerous game between support and resistance after hitting a catastrophic $78.40! With lows plunging to $65 amid a shaky ceasefire, where will they land now?

But here’s the kicker—RSI momentum is stuck in neutral, and the prices are caught in the grip of the MA 200 resistance at 68.55 and the 50-Day MA support at 66.31. Hold onto your wallets!

KEY LEVELS TO SPOT!

Support Levels:

• $65 to $66 (The bottom of the range—can it hold?)
• $64 (High of May range—robust enough?)
• $60.5 (The dreaded Low of May range—danger zone!)

Resistance Levels:

• $69.5 to $70.5 (The make-or-break zone—pressure mounting!)
• $72 to $73 (Intermediate Resistance—can bulls break through?)
• $75 to $76 (Main Resistance—it’s heating up!)

PEEP THE US OIL 1H CHART!

Talk about a rollercoaster! The action has been stuck in a range, but the bulls better amp it up! As the May low trendline becomes a sneaky resistance barrier, sellers are licking their chops, just waiting to pull the rug out from under price!

With the 200-period 1H MA starting to dip lower, could this be a sign of doom? Will the bulls hold their ground and keep the prices from crashing down? The stakes couldn’t be higher!

In the absence of fiery catalysts or dire forecasts, it seems this might be the calm before the storm! Will the bulls manage to hold their support while the market holds its breath? Keep your fingers crossed!