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US crude oil futures experienced a sharp decline in the previous trading session, reaching a low of $68.84 per barrel.
From a technical perspective, the outlook leans negative, supported by clear bearish signals from the Relative Strength Index, which remains below the 50 midline. Furthermore, trading remains stable below the main resistance level of 70.50.
As long as trading stays below 70.50, the bearish trend remains favored, with the first target at 68.65. Breaking this level would further reinforce the downward momentum, paving the way toward the next station at 68.00.
Conversely, a stabilization above 70.50 would invalidate the bearish scenario, allowing oil to recover in the short term, with potential targets at 71.35 and extending toward 72.20.
Alert: Today’s schedule includes high-impact economic data from the U.S., such as the interest rate decision, the Federal Reserve’s statement, economic forecasts, and the Fed Chair’s press conference. Expect significant price volatility during these announcements.
Warning: Elevated risk levels persist amid ongoing geopolitical tensions, leaving all scenarios possible.
Disclaimer: This analysis is for informational purposes only and should not be considered as financial advice. This market’s risk level remains high, particularly due to ongoing geopolitical tensions, which could result in heightened price fluctuations.
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