Oil/USD is trading with a strong bullish intraday trend, supported by stability above the key pivot level at 108.00, reflecting continued buying pressure and positive market sentiment. As long as the price remains above this level, the upward scenario remains dominant, with potential targets at 116.00 followed by 118.00 if momentum continues to build.
However, if the price fails to hold above 108.00 and begins to decline, a corrective move may push it toward 105.00 and then 103.00, which represent key support levels. Overall, maintaining levels above 108.00 strengthens the outlook for further gains toward 116.00 in the near term.
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