🔸Technical Analysis: Current Situation: Crude oil is approaching the critical support level at 7100.
🔸Scenarios: If the support at 7100 is breached, further downward movement is anticipated, with potential for lower levels. However, there's a possibility that crude oil could find support at this level and reverse its direction, moving upwards.
🔸Market News: Impact on Oil Prices: Oil prices surged amid concerns over escalating tensions between Israel and Iran.