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Market Analysis
Source: Newsmaker.id
Oil prices have stabilized following a two-session correction, as investors monitor the outcome of Israel’s elections, which could influence the trajectory of the conflict with Iran. A tight political race has kept the market cautious, while diplomatic efforts involving Iran, Saudi Arabia, Pakistan, and Turkey have yet to fully resolve geopolitical uncertainties.
Supply risks also remain a concern, following Houthi attacks on Saudi Arabian energy infrastructure and Iranian threats to take action against vessels in the Strait of Hormuz. Investors are now awaiting U.S. oil inventory data and a decision from the Federal Reserve; these, alongside political developments in Israel and the broader Middle East conflict, are likely to serve as key catalysts for oil price movements in the near term.
Brent Oil price at the time of this analysis: $115.451
- Buy if the price moves to $115.573
- Sell if the price moves to $115.237
Resistance 2: $115.909
Resistance 1: $115.722
Support 1: $115.050
Support 2: $114.901
Note: This article is analytical in nature and does not constitute definitive advice. Please consider the impact of fundamental and technical developments on trading before making any investment decisions. (srh)
Source: Newsmaker.id