The increase in Brent Crude ⛽️Oil⛽️ prices due to the WAR🚀➕15%😔Unfortunately, in recent days, there has been a war between Israel and Palestine, and I hope that this war will end as soon as possible.🙏🙏🙏
🧐Now, how can the effect of this war show itself in the oil chart❗️❓
💡At the same time, as geopolitical tensions increase throughout the Middle East , oil prices are likely to rise even more. Meanwhile, US Strategic Petroleum Reserves (SPR) are down to just 17 days , the lowest in history. This is almost half the historical average of 33 days dating back to 1990 .
💡In addition, OPEC this week reaffirmed its commitment to voluntarily cut production to a ceiling of more than 1.5 million barrels per day.
💡In the days when Russian crude oil exports are limited, and the world's largest oil producers are also at war.
😱There's never been a worse time to have an unloaded SPR than today.
📈In terms of technical analysis, Brent Crude Oil is moving near the bottom of the ascending channel , 🟡 Price Reversal Zone(PRZ) 🟡 and SMA(100) .
🔔I expect that starting next week, the trend of Brent Crude ⛽️Oil⛽️ will rise and at least reach the 🔴 Resistance zone($100.48_$95.80) 🔴 again( ➕15%) .
⛽️Brent Crude Oil⛽️Analyze (USDBRO), Daily time frame ⏰.
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