Technicals: Week 27

Tuesday, June 30, 2026. CRUDE OIL TECHNICALS: WTI trading near $70. Recent closes ~$70.04-$70.42. Intraday range $69-$71 area. KEY LEVELS: Psychological support zone $70 (key round-number level). Immediate daily pivot support cluster ~$69.88-$70.17 (supports just below current price). Nearby resistances ~$70.46-$70.58. Near-term support ~$67-$68 (recent lows, swing references). 200-day moving average support ~$66.14 (major longer-term support). Deeper support ~$60-$65 (psychological round number, prior zones; $65 potential downside objective). Immediate resistance ~$71-$73 (recent highs, swing points, pivot resistances). Former support now resistance ~$74-$76 (key zone from prior price action). Next resistance ~$80 (notable upside target/barrier). 50-day moving average resistance ~$89 (longer-term moving average overhead resistance). SETUP: Crude in consolidation. Support at $67.93. Resistance at $71.84. Fade trade complete. Mean reversion delivered. Watch Doha talks. Hormuz escalation risk remains. NATURAL GAS TECHNICALS: Henry Hub trading ~$3.17-$3.19. Intraday range ~$3.170-$3.313. INDICATORS: RSI(14) 32.85-34.09 (Sell signal, neutral-to-oversold, weakening momentum, potential further downside/consolidation). MACD(12,26) -0.027 to -0.031 (Sell signal, negative, confirming bearish momentum). Overall technical Strong Sell (moving averages Sell, technical indicators Strong Sell). PIVOT POINTS: S3 ~3.164, S2 ~3.171, S1 ~3.179, Pivot ~3.186, R1 ~3.194, R2 ~3.201, R3 ~3.209. MOVING AVERAGES: Price trading below most SMAs/EMAs. MA5 ~3.186-$3.194 range mixed signals. MA10/20/50/100/200 mostly Sell. OTHER INDICATORS: STOCH(9,6) ~12.8 (Oversold). Williams %R ~-87 (Oversold). CCI(14) ~-100 (Sell). ADX(14) ~25 (Sell/trending). 52-WEEK RANGE: ~2.48-$7.83. SUPPORT/RESISTANCE: Support near 2.9-$3.0. Resistance around 3.1-$3.3. DOHA TALKS UPDATE: Trump announced Iran requested meeting, taking place today Doha. US envoys Steve Witkoff and Jared Kushner flying to Doha for high-level meetings this week. Iran denies direct talks (Iranian officials state delegation heading to Doha but NOT for direct US meetings). Focus implementing MOU via Qatari mediators. Stand-down agreement both sides agreed halt attacks "for now," allow vessels move freely Strait of Hormuz, continue technical talks MOU. Context tit-for-tat strikes weekend linked Strait of Hormuz disputes, strains interim deal. MOU focus resolve shipping safety, cease-fire implementation, Iran's role/management claims over strait. Qatari role acting mediator/host. Iranian position describes situation "sensitive and complex," continues asserting influence Hormuz management. THE READ: Crude consolidating $70, support $67.93, resistance $71.84. Watch Doha talks. Hormuz risk remains. Gas oversold (RSI 32, MACD negative), support near $3.0, resistance $3.1-$3.3. Accumulation zone intact but momentum weak. Doha talks critical. If successful crude could fade $65-$67. If escalation resumes crude could spike $75-$80. Trade the technicals. Respect the levels.

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