πŸ“† #Crudeoil Update MCX || April 15

MCX:CRUDEOIL1!   Crude Oil Futures
Technical Analysis:
Price failed twice to breach 7322, forming a double-top pattern.
Key neckline at 7057 suggests potential downtrend to 7000, unless breaking above 7330.

Support at 7100 (Bearish)
Resistance at 7170 (Bullish above)

Market Insights:

πŸ”Έ Potential dip in oil prices below $90/barrel post Iran's attack on Israel, considering pre-existing rally and flagged risks.

πŸ”Έ Calibrated nature of attack may pause Iran-Israel confrontation.
WTI crude futures down 0.3% at $85.37; Brent crude down 0.2% at $90.27.

πŸ”Έ Note: Market stability expected after 3 pm; await confirmation for trading at specified levels.


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