Oil Amid Peace Optimism vs Potential Technical Rebound
On the fundamental side, Brent oil prices fell slightly this morning to around $66.25 per barrel, fueled by optimism about the potential de-escalation of the Russia-Ukraine conflict through trilateral talks between Trump, Zelenskiy, and Putin.
The possibility of a return to normal Russian supply has dampened market sentiment, while TD Securities analysts note that an escalation could push prices back to higher levels, depending on tariff policy—putting downward pressure on prices if tensions ease.
Oil prices were at $66.25/Toz at the time of writing.
- Buy if the price moves around $66.30
- Sell if the price moves around $66.20
Resistance 2: $66.67
Resistance 1: $66.46
Support 1: $66.06
Support 2: $65.88
DISCLAIMER
Note: This article is analytical only and is not a definitive reference. Consider fundamental and technical developments in trading before making investment decisions.
Source: Newsmaker.id