From Investing.com: 2025-06-20 00:44:00

Last Thursday, WTI oil surged from $67 to $76.28, but momentum tapered off. Ballistic missiles and airstrikes caused market volatility. Profit-taking prevented prices from retesting highs until yesterday. Speculation of U.S. involvement grows. Oil prices remain elevated due to supply concerns from Iran. Resistance zone at $78.20-$79.00 highlighted. Monitoring key support and resistance levels for potential breakout.

1H chart shows bounce off $72 support, with resistance at $75-$76. Sustainable uptrend developing. Keep an eye on 50-period moving average for dynamic support. 15m chart supports bullish consolidation, with $77.50 as potential target. Failure could lead to retesting $72-$73 support.

Markets cautious amid geopolitical tensions. Oil prices volatile between $72 and $75. War-related headlines impact prices. Expectations of reduced supply support elevated prices. Fibonacci extensions suggest resistance zone at $78.20-$79.00. Watch for breakout or bounce off support levels for trading opportunities.



Read more at Investing.com: WTI Crude Breaks War Highs as US’ Potential War Entry Looms for Oil Markets