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WTI reversed lower after failing to hold above $60.00, sliding to a $58.70 low.
Technical outlook
- 50-SMA (4H): Price is trading below the average, adding downside pressure.
- Pattern/structure: A developing bearish setup (with lower highs) supports continuation risk to the downside.
Base case (bearish while below $60.00 / $60.45)
- A decisive break/4H close below $58.90 would likely press toward $58.50, then $57.60 if momentum builds.
Invalidation / bounce path
- Reclaiming and holding above $60.45 would neutralize immediate downside and open room for a corrective recovery.
Event risk
- U.S. NFP, unemployment, and average earnings today could spark sharp volatility—tighten risk controls around the release.
Risk note
Backdrop remains headline-sensitive. Use prudent sizing and firm stops; reassess quickly if trigger levels give way.
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: 58.50 | R1: 60.45 |
| S2: 57.60 | R2: 61.55 |
| S3: 56.55 | R3: 62.40 |
