From TradingView · · 40s
Oil Prices Hold Risk Premium as Momentum Cools
Oil prices hold risk premium but momentum cools ahead of key technical levels.
In brief
Oil prices hold risk premium but momentum cools ahead of key technical levels. Oil prices remain near $97.95 with risk premium supported by geopolitical tensions but short-term momentum weakening as technical indicators suggest potential price corrections. Originally reported by TradingView.
Oil Prices Hold Risk Premium
Oil remains caught between two opposing forces: geopolitical risk support and recovering supply flows.
Momentum Weakens Technical Indicators
Price below 9 EMA with RSI turning down and MACD showing buyer momentum loss.
Key Price Levels for Oil
Bullish scenario: Close above $98.30 to target $103.65. Bearish scenario: Close below $96.20 to test $94.60 support.
In short
Oil prices remain near $97.95 with risk premium supported by geopolitical tensions but short-term momentum weakening as technical indicators suggest potential price corrections.
