Oil Technical analysis

Note: This section contains information in English only.
Source: Dukascopy Bank SA
On the 1-hour chart, price has sharply reversed from multi-month highs near $62.30, falling about 3% to $59.46 after comments from President Trump eased near-term geopolitical fears. The drop below $60 and under the 30, 60 and 90 SMAs signals short-term bearish control, while RSI at 44 shows downside bias without being oversold. Support lies at $59.00–$58.45, with resistance at $60.50–$62.30. A bullish recovery would require holding above support, reclaiming $60–$60.50 and improving momentum, potentially driven by renewed geopolitical risks, tighter supply signals or supportive inventory data, with upside targeting $62.30 and possibly $65.00



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