In today’s Asian trading session, crude oil prices experienced a slight decline, trading just below the $85 mark. This downturn occurs despite significant geopolitical escalations over the weekend, involving drone and missile attacks by Iran on Israel. This aggressive military action, which included over 300 drones and missiles, was reportedly in retaliation for a recent attack on the Iranian embassy in Syria, for which Iran holds Israel responsible.

The market’s response to these events has been notably subdued in terms of oil pricing, even amidst speculations of further escalations. Current reports suggest that the Israeli government is gearing up for a possible retaliation, which could potentially escalate into a full-scale conflict between Israel and Iran, raising concerns about the stability of oil supply from the region. Iran’s role as a major crude oil producer adds significant weight to these concerns, as any threat to its oil production could have far-reaching effects on global oil markets.

In this complex geopolitical landscape, an advanced Artificial Intelligence (AI) platform has provided traders with crucial insights, allowing them to navigate the market’s uncertainties with remarkable effectiveness. Those utilizing this AI have reportedly managed to forecast market movements with exceptional precision, achieving an impressive 34% Return on Investment in just 24 hours. This demonstrates the AI’s capability to adapt and provide actionable intelligence in real-time, a crucial advantage in today’s volatile market environment.

As the situation develops, market participants remain vigilant, closely monitoring any further developments between Israel and Iran. The potential for escalated conflict remains a critical concern, with significant implications for global crude oil supply and market stability.

Technical analysis

Crude Oil Analysis Technical analysis 15/04/2024

Time Frame: 1 hour

CRUDEOIL Support & Resistance Table – 15/04/2024

Support & ResistanceLevelExplanation
Resistance 286.20Daily R2
Resistance 185.58Daily R1
Support 183.91Daily S1
Support 283.32Daily S2

CRUDEOIL Indicator Table – 15/04/2024

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

CRUDEOIL Indicator / Period Table – 15/04/2024

Indicator / PeriodDay – SellWeek – BuyMonth – Buy
MACD( 12;26;9)SellBuyBuy
RSI (14)SellBuyBuy
SMA 20SellBuyBuy

CRUDEOIL 15/04/2024 – Reference Price : 84.66

SELLSimple Moving AverageBuy (1)Sell (2)Technical Indicators – OscillatorsBuy (1)Sell (2)

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