Crude Oil is currently trading near $99.50, maintaining strong bullish momentum as prices approach the $100 psychological resistance level.
This level is critical for determining whether the market continues its rally or enters a short-term corrective phase.
Key Technical Levels
Resistance
• $100.00 – Psychological level
• $102.40 – $104.80 – Next resistance zone
Support
• $97.80 – Immediate support
• $95.50 – $93.20 – Major demand zone
📈 Bullish Scenario
If crude oil breaks and sustains above $100, the rally may extend toward $102.40 and potentially $104.80.
📉 Bearish Scenario
If the market fails to break above $100, profit-taking may push prices back toward $97.80 or $95.50.
📌 The $100 level will be the key level that determines the next major move for crude oil.
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