Crude oil gained sharply as Middle East tension intensified. It hit a high of $72.45 and is currently trading around $71.69.
Geopolitical tension-
Iran, a pro-Hezbollah and Hamas militants launched dozens of missiles into Israel yesterday. According to the Energy Information Administration (EIA), crude oil inventories rose by 3.9 million barrels for the week ending Sep 27th compared to a forecast of -1.5 million barrels.
US dollar index - Bearish
US treasury yield- bearish (positive for commodity market).
Major resistance- $72.50. Any breach above will take the commodity to next level $73.60/$74.80/$76./$77.05. Major trend reversal only above $80.
The near-term support is around $70.50, any violation below targets $69.80/$69/$67.70.
Indicators (4- hour chart)
ADX- Bearish
CCI (50) - Bearish
It is good to buy above $72.50 with SL around $71.80 for TP of $75.


US Gas Market Poised for Supercycle: Bernstein Analysts
Lithium Market Poised for Recovery Amid Supply Cuts and Rising Demand
China’s Growth Faces Structural Challenges Amid Doubts Over Data
U.S. Stocks vs. Bonds: Are Diverging Valuations Signaling a Shift?
Indonesia Surprises Markets with Interest Rate Cut Amid Currency Pressure
Fed May Resume Rate Hikes: BofA Analysts Outline Key Scenarios
Geopolitical Shocks That Could Reshape Financial Markets in 2025
European Stocks Rally on Chinese Growth and Mining Merger Speculation
Global Markets React to Strong U.S. Jobs Data and Rising Yields
Trump’s "Shock and Awe" Agenda: Executive Orders from Day One
Urban studies: Doing research when every city is different
Gold Prices Slide as Rate Cut Prospects Diminish; Copper Gains on China Stimulus Hopes
Mexico's Undervalued Equity Market Offers Long-Term Investment Potential
Oil Prices Dip Slightly Amid Focus on Russian Sanctions and U.S. Inflation Data
Moody's Upgrades Argentina's Credit Rating Amid Economic Reforms
US Futures Rise as Investors Eye Earnings, Inflation Data, and Wildfire Impacts 



