Let’s look at the price action in crude following the spike high on geopolitical events and subsequent retreat despite ongoing concerns..
With the focus on interest rates and sticky inflation, the price of energy will play a role as central bank decisiosn on when or how much to cut interest rates.
This chart shows potential for an exhaustion on the upside but would probably have to take out the $85 level to suggest more scope on the downside.
Reminder this is a CFD price feed and levels may differ from what your broker shows. So look at the chart patterns and line them up with your charts.