In today’s Asian trading session, crude oil prices have seen a modest increase, with values surpassing the $85 mark. This uptick is primarily fueled by heightened geopolitical tensions in the Middle East, which have sparked concerns over potential disruptions in oil supply.

The recent rise in crude oil futures was notably influenced by statements from Israeli Prime Minister Benjamin Netanyahu, who emphasized Israel’s preparedness to handle threats extending beyond the Gaza region. His comments have highlighted a proactive stance on national security, both defensively and offensively, which has resonated within the oil markets due to the region’s pivotal role in global oil production.

Further compounding market uncertainty, there have been reports suggesting possible Iranian retaliatory actions following recent incidents targeting the Iranian embassy in Damascus. Such developments are closely watched by market participants, as escalations in West Asia hold significant implications for oil supply continuity globally.

Amidst these unfolding geopolitical dynamics, a cutting-edge Artificial Intelligence (AI) tool has proven invaluable for traders by offering precise market forecasts. Remarkably, individuals utilizing this AI have been able to navigate the complexities of the oil market effectively, achieving over 34% Return on Investment in just the past 24 hours. This showcases the AI’s ability to adapt and predict in real-time, providing traders with the insights needed to make informed decisions during periods of potential market volatility.

As the situation in the Middle East continues to develop, the global oil markets remain on high alert. Investors and traders are advised to stay informed and consider advanced analytical tools like AI to enhance their trading strategies, especially in markets as susceptible to geopolitical influences as oil.

Technical analysis

Crude Oil Analysis Technical analysis 12/04/2024

Time Frame: 1 hour

CRUDEOIL Support & Resistance Table – 12/04/2024

Support & ResistanceLevelExplanation
Resistance 287.06Daily R2
Resistance 186.51Daily R1
Support 185.03Daily S1
Support 284.48Daily S2

CRUDEOIL Indicator Table – 12/04/2024

SMA 20Buy
SMA 50Buy
SMA 100Buy
MACD( 12;26;9)Neutral
RSI (14)Buy
Stochastic ( 9;6;3)Buy

CRUDEOIL Indicator / Period Table – 12/04/2024

Indicator / PeriodDay – BuyWeek – BuyMonth – Buy
MACD( 12;26;9)NeutralBuyBuy
RSI (14)BuyBuyBuy
SMA 20BuyBuyBuy

CRUDEOIL 12/04/2024 – Reference Price : 85.84

BUYSimple Moving AverageBuy (3)Sell (0)Technical Indicators – OscillatorsBuy (2)Sell (0)

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