Fundamental
Oil prices remain under pressure. Volatility is expected to remain elevated as traders digest inventory data, watch for geopolitical shifts, and anticipate the upcoming OPEC+ meeting on July 6, where supply policy could change.
Technical
Technical indicators remain strongly bearish with RSI favouring further downside below pivot level 65.53 toward support levels at 63.76 and 60.00. A break above 65.53 sees a move towards resistance levels at 66.50 and 69.00 subsequently
Oil prices remain under pressure. Volatility is expected to remain elevated as traders digest inventory data, watch for geopolitical shifts, and anticipate the upcoming OPEC+ meeting on July 6, where supply policy could change.
Technical
Technical indicators remain strongly bearish with RSI favouring further downside below pivot level 65.53 toward support levels at 63.76 and 60.00. A break above 65.53 sees a move towards resistance levels at 66.50 and 69.00 subsequently
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