Heavy Selling Pressure Drags Oil Lower 23/9/2025

WTI crude extended its bearish trajectory, reaching the first target at $62.15 before recording a session low of $61.65, now approaching the next stop at $61.30.

Technical Outlook:

• Simple Moving Averages (SMA): Prices remain under pressure from above, with moving averages forming dynamic resistance that limits rebound attempts.
• Relative Strength Index (RSI): Stabilizing below the 50 midline, confirming the persistence of negative momentum.
• Key Levels: Current resistance stands at $62.45, with stability below $62.80 reinforcing the strength of the downtrend.

Probable Scenario:

• Bearish Case: A decisive break below $61.45 could intensify selling pressure and open the way toward $60.90 as the next intraday target.
• Bullish Case: A breakout above $62.45 on an hourly close may trigger a temporary recovery toward $62.80.

Note: The previously open price gap has now been closed.

Warning: Markets are awaiting high-impact US economic data today (Services and Manufacturing PMI releases). Volatility is likely upon publication.

Risk Note: Risk levels remain elevated amid ongoing trade and geopolitical tensions, and all scenarios are possible.

Trading in CFDs involves high risk, and therefore all scenarios are subject to potential outcomes. The analysis provided above is not a recommendation to buy or sell but rather an illustrative reading of price action on the chart.

S1: 61.45	R1: 62.80
S2: 60.90	R2: 63.50
S3: 60.15	R3: 64.10