INSUBCONTINENT EXCLUSIVE:
Oil prices surged on June 15 after a sharp escalation in Middle East tensions, but the rally lost momentum as markets entered a
consolidation phase.Official price charts for Brent and WTI show that both benchmarks spiked to multi-month highs late last week, then
failed to extend gains overnight
Instead, prices drifted lower, with Brent slipping from its peak near $74 to around $72.WTI also retreated from highs above $72 to near $70
The 4-hour and daily charts for Brent and WTI reveal that the initial price jump pushed both contracts well above their 20, 50, and
200-period moving averages.However, after the surge, candles show smaller bodies and upper wicks, indicating selling pressure and
72.85 and 74.92, signaling overbought conditions
The MACD remains positive, but the histogram bars have begun to shrink, reflecting slowing upward momentum.Oil Rally Stalls as Brent and WTI
Enter Consolidation After Geopolitical Surge
(Photo Internet reproduction)Bollinger Bands on both timeframes expanded sharply during the rally, but prices now hover near the upper band
This pattern often signals exhaustion after a rapid move.Support levels have firmed around $71.5 for Brent and $69.5 for WTI, with
resistance at $74 and $72, respectively
Volume indicators show that trading activity spiked during the rally, then eased as consolidation set in.Oil Market Cools After Geopolitical
RallyFundamentals remain driven by geopolitical risk
possible disruptions to regional oil flows.Yet, no physical supply interruption has occurred, and official data from OPEC+ and the US EIA
still point to ample global supply
Macroeconomic headwinds persist, with weak Chinese growth and cautious global demand forecasts tempering the bullish narrative.ETF flows
confirm the shift in sentiment
After heavy inflows during the rally, oil ETFs recorded outflows as investors locked in profits and reassessed risk
Broader markets reflected the uncertainty, with equities under pressure and the dollar strengthening as investors sought safety.Technical
analysis and fundamentals now align: the market remains overbought, and the risk premium persists, but without fresh escalation or actual
supply loss, prices have paused.The next move depends on developments in the Middle East and whether support levels hold
If tensions ease or supply remains stable, a deeper pullback is possible
If new risks emerge, the rally could resume.The story behind the numbers is clear
The oil market responded swiftly to geopolitical headlines, but traders now wait for confirmation before committing to higher prices
The consolidation phase reflects caution and the need for new catalysts.
