Crude Oil prices grabbed aggressive bids on Thursday and rallied near the 100.00 psychological price mark in the Asian session after the US President Donald Trump’s Iran war update.

Speaking to the nation, Trump said that Iran will be hit so hard over the next two to three weeks and that it will be brought to the Stone Age if no deal is reached. Trump further added that Iran’s energy-infrastructure remains a possible target, which, in-turn is seen to be a key factor behind the sharp intraday rise in Crude-Oil prices.

XTI Cools Off Near Highs After Strong Rally

XTI/USDT on the 1H chart shows a breakout and pullback pattern. Price was consolidating in a range between $98 – $102 before breaking out on the upside to $112 and rejecting, cooling off after such a move.

The key resistance zone is $112–118, while the immediate level to watch around $106–107 now acts as a short-term pivot. Support on the downside is at $100–101, while demand between $96–97 is stronger and major support is at $92.

The momentum is still bullish but decelerating. The MACD is still positive, but the histogram is fading; this is indicative that the buying strength is showing a slight weakness. This indicates a pullback and not a reversal at this point.

Overall the trend is still bullish but price is experiencing a cooling down period. If the price holds above $104-$106 and moves back above $110, the uptrend can extend towards $115-$118. If it loses $104, a drop toward $100 is most likely while a deeper move can test the $96 area. The bias remains to buy the dips unless price breaks below $100 clean.

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