Crude oil is ready to take out 100 handle - #oott #crudeoil #oil

The crude oil market has been coiling up around the $90 handle for the last 2-3 weeks as tight supply and geological tension are rising. And as things continue to escalate, oil and natural gas will be the proxy asset that will benefit from conflict. As of now, there is a strong resistance for crude oil at the 85 handle, however, any further escalation or de-escalation in tension and we could easily oil up by 5-10 dollar on a given day. Intraday levels will give a good reference point for day traders and scalpers, but any piece of breaking news can cause these levels to get blown out. Trade with caution.