USOIL - Above 68.64 Is UPTREN

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Oil prices rose on Thursday ahead of an OPEC+ meeting later in the day, with investors waiting to see what the producer group would do next on supply cuts while also monitoring tension in the Middle East.

Generally, the direction is consolidation

Uptrend Side: Oil prices are showing bullish momentum, reinforcing projections of continued gains in the near term. The price is on track to reach our expected target of $70.50, with a breakout above this level likely to drive the upward wave further toward $71.74.

Downtrend Side: Conversely, a break below $68.64 would disrupt the upward momentum and prompt a shift toward a downward trend.

Tendency Keys: 68.64

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