Oil Inflection 77, 78

I usually do not trade oil, especially in uncertain times like these. It is foolish to speculate on a fast-changing market, especially when trading on margin. Nonetheless, for those of you who trade it, here is a MONTHLY chart of US Crude oil. Notice the current price is near $77-78 pb, which over the last 19 years, has proven to be a key inflection point. The level worked as repeated resistance in July 2006, October 2018, July 2021 and June 2025. Increasing reports and statements that the crisis could extend for weeks raise the probability of a breakout above $80. The weekly RSI is above 70--the highest since the outbreak of the Russia-Ukraine war in February 2022.  Daily oscillators appear over extended, but this means a pullback may only be temproary. While $74.78 appears as temporary support, the ceiling of the Gapup around $69 is the more important foundation. I avoid oil for now, with clearer opportunities in USDJPY, US100 and XAUUSD. Be careful out there.  More detailed levels sent for the English & Arabic WhatsApp Bdcst Group.

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