Oil/USD continues to trade with a strong bullish intraday bias, holding above the key pivot level at 112.00, which reflects sustained buying pressure and positive market sentiment. As long as the price remains above this level, the upside scenario is favored, with expected targets at 116.00 followed by 120.00 if the momentum persists.
However, if the price fails to maintain stability above 112.00, a corrective decline may occur, pushing it toward 110.00 and then 106.00. Overall, continued trading above 112.00 supports further gains toward 120.00 in the near term.
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