Technical Analysis:
Price failed twice to breach 7322, forming a double-top pattern.
Key neckline at 7057 suggests potential downtrend to 7000, unless breaking above 7330.
Support at 7100 (Bearish)
Resistance at 7170 (Bullish above)
Market Insights:
🔸 Potential dip in oil prices below $90/barrel post Iran's attack on Israel, considering pre-existing rally and flagged risks.
🔸 Calibrated nature of attack may pause Iran-Israel confrontation.
WTI crude futures down 0.3% at $85.37; Brent crude down 0.2% at $90.27.
🔸 Note: Market stability expected after 3 pm; await confirmation for trading at specified levels.
Price failed twice to breach 7322, forming a double-top pattern.
Key neckline at 7057 suggests potential downtrend to 7000, unless breaking above 7330.
Support at 7100 (Bearish)
Resistance at 7170 (Bullish above)
Market Insights:
🔸 Potential dip in oil prices below $90/barrel post Iran's attack on Israel, considering pre-existing rally and flagged risks.
🔸 Calibrated nature of attack may pause Iran-Israel confrontation.
WTI crude futures down 0.3% at $85.37; Brent crude down 0.2% at $90.27.
🔸 Note: Market stability expected after 3 pm; await confirmation for trading at specified levels.