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.


Gold Prices Slide as Rate Cut Prospects Diminish; Copper Gains on China Stimulus Hopes
2025 Market Outlook: Key January Events to Watch
Urban studies: Doing research when every city is different
U.S. Treasury Yields Expected to Decline Amid Cooling Economic Pressures
Mexico's Undervalued Equity Market Offers Long-Term Investment Potential
Trump’s "Shock and Awe" Agenda: Executive Orders from Day One
U.S. Stocks vs. Bonds: Are Diverging Valuations Signaling a Shift?
Geopolitical Shocks That Could Reshape Financial Markets in 2025
European Stocks Rally on Chinese Growth and Mining Merger Speculation
Energy Sector Outlook 2025: AI's Role and Market Dynamics
Global Markets React to Strong U.S. Jobs Data and Rising Yields
Oil Prices Dip Slightly Amid Focus on Russian Sanctions and U.S. Inflation Data
Bank of America Posts Strong Q4 2024 Results, Shares Rise
UBS Projects Mixed Market Outlook for 2025 Amid Trump Policy Uncertainty
Indonesia Surprises Markets with Interest Rate Cut Amid Currency Pressure
S&P 500 Relies on Tech for Growth in Q4 2024, Says Barclays
Wall Street Analysts Weigh in on Latest NFP Data 



