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Market & Economic Intelligence Platform Insight on Macro, Commodities, Equities & Policy

29 May 2026 10:38  |

Oil Price Direction Awaits This Decision!

Brent oil prices are currently trading in negative territory, around $93 during the Asian trading session, following hopes for a 60-day US-Iran ceasefire. However, this is still temporary and uncertain. Market participants are currently awaiting US President Donald Trump's final decision on whether he will agree to the US-Iran peace agreement.

There are several scenarios that market participants should consider. If Trump agrees to the peace agreement, oil prices are predicted to decline. If he disagrees, oil prices are predicted to rebound. (asd)

Oil Price at the Time of This Analysis' Release Was at $93.70

- Buy if the price moves to $93.90

- Sell if the price moves to $93.50

Resistance 2: $94.45

Resistance 1: $94.15

Support 1: $93.35

Support 2: $93.00

Note: This article is analytical and not a definitive reference. Please consider the impact of fundamental and technical developments on trading before making any investment decisions.

Source: Newsmaker.id

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