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.


U.S. Treasury Yields Expected to Decline Amid Cooling Economic Pressures
Trump’s "Shock and Awe" Agenda: Executive Orders from Day One
Energy Sector Outlook 2025: AI's Role and Market Dynamics
Gold Prices Fall Amid Rate Jitters; Copper Steady as China Stimulus Eyed
Mexico's Undervalued Equity Market Offers Long-Term Investment Potential
Bank of America Posts Strong Q4 2024 Results, Shares Rise
UBS Predicts Potential Fed Rate Cut Amid Strong US Economic Data
China's Refining Industry Faces Major Shakeup Amid Challenges
Indonesia Surprises Markets with Interest Rate Cut Amid Currency Pressure
US Gas Market Poised for Supercycle: Bernstein Analysts
Stock Futures Dip as Investors Await Key Payrolls Data
Moldova Criticizes Russia Amid Transdniestria Energy Crisis
U.S. Stocks vs. Bonds: Are Diverging Valuations Signaling a Shift?
China’s Growth Faces Structural Challenges Amid Doubts Over Data
European Stocks Rally on Chinese Growth and Mining Merger Speculation
Gold Prices Slide as Rate Cut Prospects Diminish; Copper Gains on China Stimulus Hopes 



