WTI Crude Oil steadies above $103.00 with Iran’s deadline looming

💡 DMK Insight

WTI oil’s struggle to break above 105.00 is a critical moment for traders. With prices hovering around 103.00, the market’s hesitation signals uncertainty ahead of President Trump’s deadline regarding Tehran. This geopolitical tension could lead to volatility, especially if the deadline triggers supply concerns or sanctions. Traders should keep an eye on the 105.00 resistance level; a breakout could lead to a bullish trend, while failure to breach it might result in a pullback. Additionally, watch for how this impacts related markets like energy stocks or ETFs, as they often move in tandem with oil prices. On the flip side, if the geopolitical situation stabilizes, we might see a quick retreat in oil prices, so having a risk management strategy in place is essential. Keep an eye on the daily charts for any signs of reversal or continuation patterns, particularly around key levels.