$WTIC $Oil #Energy - Oil Prices Surge Amid Escalating Geopolitical Tensions: Russia, Iran, and Middle East Conflicts Drive Market Volatility

'Wars and rumours of wars'

It finally happened!… After much jawboning Israel launched Operation Am KeLavi, a sweeping assault on Iran’s nuclear facilities, military infrastructure, and top leadership, sending oil prices skyrocketing by around 12%.

The strikes targeted the Natanz nuclear enrichment site, the Parchin nuclear research complex, and ballistic missile factories, while killing IRGC Commander Hossein Salami and Chief of Staff Mohammad Bagheri. With Iran vowing a “harsh response” and launching over 100 drones toward Israel.

Markets are bracing for further disruptions to the Strait of Hormuz or Red Sea shipping lanes, critical for 20% of global oil supply, affecting oil prices…

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$WTIC Weekly - As events unfolded we saw oil pop from the ‘Downtrend-Channel (Red) and tap the 150/MA and recoil. As you probably know by now these resistance-lines are generally more effective when enhanced by a key moving average. The question now is will it, won’t it? That will depend on what happens next, meanwhile I recommend monitoring the 4/hr and Daily 12 & 20/MA’s for support. If they hold then we should get the breakout…