WTI retests $100 as the winning streak extends alongside Middle East war

💡 DMK Insight

WTI’s four-day rally is more than just a blip—it’s signaling potential upward momentum. Traders should pay attention to the broader context, especially with geopolitical tensions and supply chain disruptions still in play. If WTI continues to rise, it could break through key resistance levels, which would attract more buying interest. Watch for any news that could impact supply, as that could either fuel this rally or trigger a pullback. The market’s reaction to these developments will be crucial, especially for those trading energy stocks or ETFs that correlate with oil prices. Keep an eye on the $85 mark; a sustained move above that could indicate a bullish trend. On the flip side, if we see any signs of demand destruction or a sudden increase in U.S. production, that could dampen this bullish sentiment. So, it’s worth monitoring the EIA reports closely for any shifts in inventory levels or production forecasts. The next few days will be critical for determining whether this rally has legs or if it’s just a temporary spike.