{"id":435387,"date":"2026-08-04T15:35:34","date_gmt":"2026-08-04T08:35:34","guid":{"rendered":"https:\/\/www.swingfish.trade\/blog\/market-news\/crude-oil-rebounds-on-mixed-us-iran-messages-as-weekend-risk-keeps-prices-underpinned-435387\/"},"modified":"2026-08-04T15:35:34","modified_gmt":"2026-08-04T08:35:34","slug":"crude-oil-rebounds-on-mixed-us-iran-messages-as-weekend-risk-keeps-prices-underpinned","status":"publish","type":"post","link":"https:\/\/www.swingfish.trade\/blog\/market-news\/crude-oil-rebounds-on-mixed-us-iran-messages-as-weekend-risk-keeps-prices-underpinned-435387\/","title":{"rendered":"Crude oil rebounds on mixed US-Iran messages as weekend risk keeps prices underpinned"},"content":{"rendered":"
\n

FUNDAMENTAL
\n OVERVIEW<\/p>\n

\u00a0<\/p>\n

Crude oil opened the week with a big negative gap after Trump called off the planned strikes on Iran<\/a> claiming
\n they reached the perimeters of a deal that would include the immediate and complete
\n opening of the Strait of Hormuz. He added that this ceasefire is subject to
\n being able to make a deal rapidly.\u00a0 <\/p>\n

The good news is that Trump continues to follow the same old \u201cescalate to
\n de-escalate\u201d strategy which limits the upside in oil prices. The bad news is
\n that Iran denied Trump\u2019s claims and confirmed that the strait remains closed.<\/p>\n

Without further de-escalation and confirmations of positive
\n talks, oil prices will likely drift back higher and accelerate into the weekend
\n on risks of surprise US attacks. <\/p>\n

\u00a0<\/p>\n

CRUDE OIL
\n TECHNICAL ANALYSIS \u2013 DAILY TIMEFRAME<\/p>\n<\/p>\n

On the daily chart, we can
\n see that crude oil dropped again back to the support zone around the 78.00
\n handle. The buyers stepped in with a defined risk below the support to position
\n for a rally into new highs. The sellers will need the price to break below the
\n support to open the door for a move into the 68.00 support next.<\/p>\n

CRUDE OIL TECHNICAL
\n ANALYSIS \u2013 4 HOUR TIMEFRAME<\/p>\n<\/p>\n

On the 4 hour chart, we can
\n see the price might now consolidate between the 78.00 support and the 87.00
\n resistance. The market participants will continue to play the range by buying
\n at support and selling at resistance until we get a breakout on either side. <\/p>\n

CRUDE OIL TECHNICAL ANALYSIS \u2013 1 HOUR TIMEFRAME<\/p>\n<\/p>\n

On the 1 hour chart, there\u2019s
\n not much we can add here as the price action will likely remain rangebound
\n until we get another fresh US-Iran development. The red lines define the average daily range<\/a> for today. <\/p>\n

UPCOMING CATALYSTS<\/p>\n

Today<\/a>, we get the US Job
\n Openings data. Tomorrow, we have the US ADP and ISM Services PMI. On Thursday,
\n we get the latest US Jobless Claims figures. On Friday, we conclude the week
\n with the US NFP report. The US-Iran developments will remain in focus.<\/p>\n

This article was written by Giuseppe Dellamotta at investinglive.com.<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"

FUNDAMENTAL OVERVIEW \u00a0 Crude oil opened the week with a big negative gap after Trump called off the planned strikes on Iran claiming they reached the perimeters of a deal that would…<\/p>\n","protected":false},"author":216,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[86],"tags":[],"class_list":["post-435387","post","type-post","status-publish","format-standard","hentry","category-market-news"],"_links":{"self":[{"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/posts\/435387","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/users\/216"}],"replies":[{"embeddable":true,"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/comments?post=435387"}],"version-history":[{"count":0,"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/posts\/435387\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/media?parent=435387"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/categories?post=435387"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/tags?post=435387"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}