Pakistan-US Iran talks revive risk appetite; oil slides near $87
Pakistan is working to restart U.S.-Iran talks, Reuters reported. Crude fell nearly $4 to $88.25, testing support near $87. The 100-hour moving average at $86.66 is the next line for buyers.
Alpha Score of 49 reflects weak overall profile with strong momentum, poor value, moderate quality. Based on 3 of 4 signals – score is capped at 90 until remaining data ingests.
Pakistan is working to restart U.S.-Iran nuclear talks, Reuters reported Wednesday, citing four sources. The geopolitical headline helped improve risk sentiment across markets.
U.S. stocks climbed on the report. The Dow Jones Industrial Average rose about 350 points, or 0.67%, to 52,063. The S&P 500 added 39 points, or 0.52%, to 7,447.13. The Nasdaq recovered from a session low of -219.60 points and traded near unchanged at 25,139.
Crude oil extended its decline, trading at $88.25, down nearly $4 on the day. The next support zone sits between $86.66 and $87.07. The $87.07 level marks the broken 38.2% retracement of the decline from the March high to the July low, while $86.66 is where the rising 100-hour moving average sits.
The 100-hour moving average has been a key level for buyers since July 6, with crude holding above it except for a few brief dips. A sustained break below that zone would shift focus to the rising 200-hour moving average at $83.42, giving sellers more control.
On the upside, crude's rally stalled earlier this week after testing the 50% retracement of the decline from the 2026 high at $93.26. The failure to break above that level attracted sellers and reinforced it as resistance.
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