Bitcoin 
Ethereum 
Tether 
BNB 
XRP 
USDC 
Solana 
TRON 
Lido Staked Ether 
Figure Heloc 
Oil prices are again rising
into triple digit levels due to the lack of any breakthrough in the US-Iran “negotiations”
and the increasing risk of an escalation over the weekend. Trump has been
jawboning prices throughout the entire week with ceasefire comments and claims
that Iran has been “begging” him for a deal. Meanwhile, the US military buildup
in the Middle East increased the speculations of a potential ground invasion. Late yesterday, Trump
extended the ceasefire through April 6, right as major equity indices were on
the verge of breaking to new monthly lows and Treasury yields were pushing
toward fresh highs. He claimed Iran requested the extension, but the Iranians
denied such claim. It looked like another
attempt to jawbone the market, but this time it didn’t have the same impact as
earlier in the week and the losses were quickly faded. We might see more
hedging into the weekend risk throughout the day which should keep oil prices
supported into new highs.If we get a serious escalation over the weekend, we can expect WTI to open above the 120.00 handle and all the other markets in deep red. The probability of a recession at that point will be very high. On the 4 hour chart, we can
see the slowly erosion of Monday’s losses as speculations of a potential ground
invasion increased. Unless Trump jawbones prices again or we get a clear breakthrough,
we can expect oil to rise back into the 102.00 resistance. If we get a pullback,
the buyers will likely lean on the trendline with a defined risk below it to
keep pushing into new highs, while the sellers will look for a break to
increase the bearish bets into the 78.00 support.
This article was written by Giuseppe Dellamotta at investinglive.com.
💡 DMK Insight
Oil prices are creeping back toward triple digits, and here’s why that’s crucial for traders: The stalled US-Iran negotiations are a significant factor driving prices higher. With no signs of resolution, the market is pricing in potential supply disruptions, which could lead to volatility. Traders should keep an eye on geopolitical developments, as any escalation could trigger a sharp price spike. Additionally, Trump’s comments about Iran ‘begging’ for a ceasefire might be more than just rhetoric; they could indicate a willingness to engage in further conflict, impacting supply chains. If oil breaches key resistance levels near recent highs, it could attract momentum traders, pushing prices even higher. On the flip side, if negotiations suddenly progress or if there’s a de-escalation, we could see a rapid correction. Watch for key technical levels around $100, as a break above could signal a strong bullish trend. Conversely, a failure to hold these levels might lead to profit-taking and a pullback. Keep an eye on the daily charts for signs of momentum shifts, especially over the weekend when geopolitical news tends to break.
📮 Takeaway
Monitor oil prices closely; a breach of $100 could signal a bullish trend, while any positive news from US-Iran talks might trigger a sharp correction.
