🎯 Trade Setup:
Direction: Long from pullback
🔻 Entry: $89.20–$89.60 after bullish confirmation
🛑 Stop Loss: $85.90
🎯 Take Profit 1: $91.85
🎯 Take Profit 2: $93.50
📰 News:
WTI extended its rally as renewed U.S.–Iran tensions, tanker attacks and disruption risks around major shipping routes increased the geopolitical premium. However, the EIA reported a 2.0 million-barrel increase in U.S. crude inventories, providing a modest bearish counterweight. The backdrop remains bullish but highly sensitive to geopolitical headlines.
📊 Analysis:
USOIL is trading near $90.70, above EMA 9, EMA 20, SMA 50 and SMA 200, confirming a strong bullish structure. MACD remains positive and supports further upside.
However, RSI is near 78, while Stochastic RSI is close to 98. Both indicators signal overbought conditions, increasing the probability of consolidation or a short-term pullback before continuation.
⚠️ Not financial advice.