Oil/USD continues to trade with a strong bullish intraday bias, supported by stability above the key pivot level at 99.70, reflecting sustained buying pressure in the market. As long as the price remains above this level, the upward scenario remains dominant, with potential targets at 104.00 followed by 107.00 if bullish momentum persists.
However, if the price fails to hold above 99.70 and begins to decline, a corrective move may push it toward 97.60 and then 94.00, which represent key support levels. Overall, maintaining levels above 99.70 increases the likelihood of continued gains toward 104.00 in the near term.
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