West Texas Intermediate (WTI) US Oil extends its rally on Friday, with the US benchmark trading around $100.90 at the time of writing, up 3.13% on the day and breaking above the $100 level to reach a fresh weekly high.
💡 DMK Insight
WTI crude oil’s surge past $100 is a game changer for traders right now. This rally isn’t just a number; it reflects broader supply concerns and geopolitical tensions that could keep prices elevated. With WTI trading around $100.90, the psychological barrier of $100 has been breached, which often leads to increased buying momentum. Traders should watch for potential resistance at $105, as breaking through that could signal a more sustained uptrend. On the flip side, if prices retrace below $100, it could trigger profit-taking and a bearish sentiment shift. Keep an eye on the upcoming OPEC meetings and U.S. inventory reports, as these could provide further volatility. If you’re in the oil market, consider positioning for short-term trades around these key levels, especially if we see a pullback to $98, which could act as a support zone.
📮 Takeaway
Watch for WTI to hold above $100; a break above $105 could signal further upside, while a drop below $98 may indicate a bearish reversal.




