28 Crude oil follows 74.4/72.5, see my analysis
Market participants will be watching developments in the Red Sea closely as a drone attack on an oil tanker raises concerns about shipping disruptions. Additionally, ongoing Israeli military strikes in Gaza remain a major driver of sentiment.
On the 1H chart, OIL is in a blocked upward trend. The upper pressure is 74.4. If it stands firm, it will return to the trend. If it falls below the 72.4 support below, it means the end of this round of rising prices.
Focus on these two locations today
On the 1H chart, OIL is in a blocked upward trend. The upper pressure is 74.4. If it stands firm, it will return to the trend. If it falls below the 72.4 support below, it means the end of this round of rising prices.
Focus on these two locations today
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Crude oil found support near 72.4 and rebounded
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