🛢️ Oil prices are rising as US-IRAN tensions increase, with traders adding a geopolitical risk premium due to uncertainty and conflict fears
🛢️ Reports of possible US action against Iranian oil shipments and increased military presence are supporting oil prices, even without actual supply disruption yet.
🛢️ Oil markets are moving between war fears and diplomacy. Tensions support prices, while talks between the US and Iran sometimes cause short-term dips.
🛢️ About 20% of global oil passes through the Strait of Hormuz. Any escalation there could sharply tighten supply and push prices higher.
👾 Why should trader's care
🌎 Oil prices can spike or drop quickly on headlines, even without real supply disruption, increasing volatility and trading risk. Any escalation can impact inflation and global markets.
👾 What does Chart tells us?
⚡ Due to US Iran tensions US oil is giving a demand which was the fake move of CCP i.e. Penanat. As, news season is also going on with upcoming CPI news volatility can be expected.
Condition 1 - As bearish engulfing is failing market can expect to give demand and use SR Interchange as restesting zone and move up if this war tensions escalate.
Condition 2 - A supply is expected as there are a lot of liquidaties which can be filled based on news headlines, SR Interchange can be used as restesting and a price correction can be expected.
🔹Keep a watch on how market reacts during CPI & analyse wisely as 50% area of demand is a valuable confirmation zone.
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