Oil under negative pressure 3/12/2025

Selling pressure continues to dominate U.S. crude oil futures, with price action stabilizing near the session low at $58.66.

Technical Outlook – 4-Hour Timeframe:

Oil remains pressured along a descending trendline, maintaining a bearish structure. The lack of support from the 50-period simple moving average reinforces the downside bias and limits any meaningful upward attempts. A bearish technical pattern is also in play, signaling the likelihood of continued downside movement in the near term.

As long as the price trades below the resistance at $59.40, the bearish outlook remains favored. A confirmed break below $58.30 could accelerate losses toward $57.55, followed by $56.70 as the next support.

However, holding above $59.40 would invalidate this scenario and could trigger a temporary upward correction toward $60.20.

Warning: Highly impactful U.S. economic data is due today, including the Non-Farm Private Employment Change and the ISM PMI. Sharp price volatility is likely during the release.

Warning: The risk level remains elevated amid persistent geopolitical and trade tensions, and all scenarios remain 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: 58.10	R1: 59.40
S2: 57.50	R2: 60.20
S3: 56.75	R3: 60.75