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5 March 2025,01:21
Trade Of The Day
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5 March 2025, 01:21
* US-Iran Nuclear Talks Potential Wane on Fears upon Supply Disruption: Oil prices declined following positive developments in U.S.-Iran nuclear negotiations and renewed Russia-Ukraine ceasefire discussions. The resumption of nuclear talks between the U.S. and Iran, with Russia mediating discussions on Tehran’s nuclear program and regional influence, has raised expectations of a potential breakthrough. If an agreement is reached, sanctions on Iran could be lifted, increasing global oil supply and pressuring prices lower. Conversely, if negotiations fail, tighter U.S. sanctions could restrict Iranian exports, supporting oil prices.
* Technical Breakout: Crude oil is trading lower after pulling back from resistance. MACD signals weakening bullish momentum, while RSI at 45 suggests continued downside potential.
* Resistance and Support: If prices remain below $68.30, oil could extend losses toward support at $66.75. Conversely, a breakout above resistance may shift the trend back to bullish, with potential upside toward $69.30.
Stay updated on geopolitical developments, OPEC decisions, supply-demand dynamics, and any shifts in U.S. sanctions or Iranian crude exports.
Learn more about how to navigate the prop trading landscape by checking out PU Xtrader’s trading blogs.
Stay updated on geopolitical events, U.S. trade policies, key economic data, central bank updates, and any shifts in global market sentiment by following PU Xtrader’s financial news page.
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