USOIL WEEKLY MARKET ANALYSIS

📊 USOIL Weekly Update

Technical View:
Not much has changed on the charts. Price remains within the expected range, waiting for a catalyst to break out.

Fundamental Highlights:

• Geopolitics: UKOIL Brent hit ~$71, WTI at ~$67, driven by instability following the ousting of Syria's President.
  
• Saudi Aramco: January crude prices for Asia slashed to early 2021 lows due to weak Chinese demand.
  
• OPEC+: Delayed output hikes to April 2025; cuts extended through 2026.
  
• U.S. Supply: Increased oil & gas rig activity adds pressure on prices.
  
• Natural Gas: Futures rebounded 5% to $3.147 after last week’s losses.
  

🔑 Key Levels ( USOIL WTI):

• Bullish: Close above 21-period SMA ($72.37) targets 50-period SMA ($73.98).
  
• Bearish: Close below $72.00 may see a drop toward ~$70.63.
  

📌 Trading Strategy:
Keep alerts set for key levels; patience is key as we await clearer directional moves.

💬 Let’s discuss more in ⁠comment below!

Happy Trading,
The NFX Team™ 💚
(Earlier shared this post but got taken down due to some off-platform mention (violation) - still getting used to the TV rules :) , reposted for reference purpose.)