Note: This section contains information in English only.WTI Light Crude Oil has surged from around $67 to the mid-$70s before settling near $72.7, marking a massive high-volatility breakout. The sharp move is largely driven by escalating tensions between Iran and the United States, increasing fears of potential supply disruptions, particularly around key oil transit routes in the Middle East. This geopolitical risk has added a strong premium to prices and triggered the spike.
Technically, the overall trend remains bullish following the earlier Golden Cross, but price is currently stretched far above the 24-period moving average, indicating short-term overextension. Immediate resistance sits at $75.20, with $77.65 as the next major upside target. On the downside, $70.05 is critical support, holding above it maintains bullish momentum, while a break below could trigger a pullback toward $68 to partially fill the gap. The broader bias remains bullish, but short-term consolidation or retracement would be technically healthy after such an aggressive move.
Mon, 02 Mar 2026 12:41:56 GMT
Source: Dukascopy Bank SA
Technically, the overall trend remains bullish following the earlier Golden Cross, but price is currently stretched far above the 24-period moving average, indicating short-term overextension. Immediate resistance sits at $75.20, with $77.65 as the next major upside target. On the downside, $70.05 is critical support, holding above it maintains bullish momentum, while a break below could trigger a pullback toward $68 to partially fill the gap. The broader bias remains bullish, but short-term consolidation or retracement would be technically healthy after such an aggressive move.