Crude oil settles at $78.14. Largest gain since April 29. Gold sharply lower.
The price of crude oil futures surged 9.42% to settle at $78.14, marking the largest one-day gain since April 29, when prices climbed 8.92%. In early trading today, prices have eased to around $77.51, but that still leaves crude higher by roughly $6.03, or 8.4%, from Friday's close.
The rally was fueled by escalating geopolitical tensions. President Trump announced a 20% transit charge on ships exiting the Strait of Hormuz, saying the fee would compensate the U.S. Navy for escorting commercial vessels through the vital shipping lane. He also announced a blockade of Iranian vessels, while reports of strikes near a Saudi Arabian airport added to concerns that the conflict could broaden and threaten energy supplies.
From a technical perspective, the sharp rally pushed prices well above the 200-day moving average at $74.21, with the session ranging from a low of $72.61 to a high of $78.45. That high stalled just three cents below the 38.2% retracement of the decline from the June high to the July low at $78.48. The rally also tested a downward-sloping trend line connecting the mid-May, June 8, and June 11 highs, creating an important resistance zone.
If buyers can break above the $78.45-$78.48 resistance area, the next upside target comes at the June 17 high of $79.18. A move above that level would shift the focus toward the $82.00 area, where the 50% retracement of the decline from the June 3 high is located.
On the downside, if sellers defend the current resistance and momentum fades, a move back below the $76.00 to $77.10 swing area would increase confidence that the rally is losing steam and could trigger a deeper retracement.
In other commodity news, gold is under heavy pressure, falling $118, or 2.86%, to $4,002.25. Earlier today, the price dipped below the $4,000 level for the first time since early July, reaching a session low of $3,986.62 before rebounding modestly.
From a technical perspective, the move lower has broken below both the June 11 low and the July 8 low near $4,021.52. That former support level now becomes an important risk level for buyers. As long as the price remains below $4,021.52, the near-term bias stays tilted to the downside.
The next downside targets come in near the recent swing low at $3,962. A break below that level would shift the focus to the June 30 cycle low at $3,942.43. Buyers need to reclaim $4,021.52 to ease the immediate selling pressure and begin to improve the short-term technical outlook.
This article was written by fl932d6e52a19643278e0f123bca7198f5 at investinglive.com.提供 MainLink：Investinglive RSS Breaking News Feed
FX初心者には必須 無料のうちにGET！
