In my view, oil still holds a bullish main trend over the next 1–2 days, but the short-term path is unlikely to be a straight move higher. Price may first extend upward toward the 100.36–100.50 area, then enter a technical pullback into the 99.32–99.82 zone, or in a deeper correction scenario, decline sharply toward 96.21–97.17 before buyers step back in and push oil significantly higher again. Source
From a real-time macro perspective, oil continues to be supported by geopolitical tensions and supply risks. Reuters reported that oil surged as U.S.–Iran negotiations remained deadlocked, increasing concerns about prolonged Middle East supply disruptions. At the same time, U.S. crude and fuel inventories fell much more than expected, reinforcing bullish pressure. This remains a key reason why oil’s broader short-term direction is still tilted to the upside.
However, CNBC also noted that oil is currently in a high-volatility, noisy environment, as the market is being driven at the same time by physical supply disruptions, investor psychology, and political headlines. Prices can rally sharply when tensions escalate, but they can also correct deeply after reaching resistance or when short-term profit-taking appears. That fits well with the scenario of oil first rising into the 100.36–100.50 area before pulling back and then resuming the broader bullish move.
From a chart perspective, the current structure shows price trading around the 99.3 area, with the nearest resistance located around 100.36–100.50. The most reasonable scenario is a push higher into that zone first, followed by a corrective move back toward 99.32–99.82 to test buying interest. If short-term selling pressure becomes stronger due to market noise, price could extend lower toward 96.21–97.17. But if that area holds, it may become a strong accumulation base for the next bullish expansion.
Trading Idea
The main trend remains bullish.
Preferred scenario: rise toward 100.36–100.50 → pull back to 99.32–99.82 or deeper to 96.21–97.17 → then rally strongly again.
Advice for Investors
The market is currently very noisy, so this is not an ideal phase for large position sizing. A more suitable approach is to trade small-size scalping positions, taking advantage of short-term waves rather than holding oversized positions for too long. Investors should also monitor the market continuously, especially headlines related to U.S.–Iran developments, Middle East supply conditions, and oil inventory data, as these factors can quickly reverse intraday price direction.
Conclusion
In summary, oil still has a bullish advantage over the next two days, but the path could be very uneven. The 100.36–100.50 zone is the nearest upside target to watch, while 99.32–99.82 and 96.21–97.17 are important pullback zones that could build the foundation for the next strong rally. This is a phase where traders should prioritize short-term execution, small position sizes, and strict risk management.
From a real-time macro perspective, oil continues to be supported by geopolitical tensions and supply risks. Reuters reported that oil surged as U.S.–Iran negotiations remained deadlocked, increasing concerns about prolonged Middle East supply disruptions. At the same time, U.S. crude and fuel inventories fell much more than expected, reinforcing bullish pressure. This remains a key reason why oil’s broader short-term direction is still tilted to the upside.
However, CNBC also noted that oil is currently in a high-volatility, noisy environment, as the market is being driven at the same time by physical supply disruptions, investor psychology, and political headlines. Prices can rally sharply when tensions escalate, but they can also correct deeply after reaching resistance or when short-term profit-taking appears. That fits well with the scenario of oil first rising into the 100.36–100.50 area before pulling back and then resuming the broader bullish move.
From a chart perspective, the current structure shows price trading around the 99.3 area, with the nearest resistance located around 100.36–100.50. The most reasonable scenario is a push higher into that zone first, followed by a corrective move back toward 99.32–99.82 to test buying interest. If short-term selling pressure becomes stronger due to market noise, price could extend lower toward 96.21–97.17. But if that area holds, it may become a strong accumulation base for the next bullish expansion.
Trading Idea
The main trend remains bullish.
Preferred scenario: rise toward 100.36–100.50 → pull back to 99.32–99.82 or deeper to 96.21–97.17 → then rally strongly again.
Advice for Investors
The market is currently very noisy, so this is not an ideal phase for large position sizing. A more suitable approach is to trade small-size scalping positions, taking advantage of short-term waves rather than holding oversized positions for too long. Investors should also monitor the market continuously, especially headlines related to U.S.–Iran developments, Middle East supply conditions, and oil inventory data, as these factors can quickly reverse intraday price direction.
Conclusion
In summary, oil still has a bullish advantage over the next two days, but the path could be very uneven. The 100.36–100.50 zone is the nearest upside target to watch, while 99.32–99.82 and 96.21–97.17 are important pullback zones that could build the foundation for the next strong rally. This is a phase where traders should prioritize short-term execution, small position sizes, and strict risk management.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.