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US Crude Oil (WTI) Technical Analysis
US crude oil prices witnessed negative price action during the morning session of today’s trading, after the contract registered a level near $77.05 , a move that comes amid persistent technical pressures capping the prospects of a recovery over the short term.
Technical Outlook – 4-Hour Timeframe:
With respect to intraday dynamics, the Relative Strength Index (RSI) has started to broadcast negative signals after pushing into overbought territory relative to the price action — a configuration that could amplify the pace of the decline across the upcoming sessions.
At the same time, the simple moving averages continue to weigh on prices from above, functioning as dynamic resistance zones that cap upside attempts and preserve the selling pressure intact.
Compounding this picture, the continuation of trading beneath the descending trendline represents a major technical hurdle standing in the way of a fully fledged recovery — strengthening the probability of an extended negative bias unless prices succeed in decisively breaching the pivotal resistance levels and consolidating above them.
Expected Scenarios:
Bearish (Most Likely) Scenario:
Sustained intraday trading beneath the $77.80 resistance ceiling preserves the advantage of the downtrend, with the initial target set at:
- $75.85
A decisive break below this level — coupled with sustained trading beneath it — would extend the losses toward:
- $74.70 as the subsequent level
Bullish Scenario:
Conversely, a sustained recovery and stabilization above the $78.00 level would compel prices to recoup their losses, with:
- $78.80 emerging as the initial upside target
Disclaimer: Trading oil carries substantial risk and may not be suitable for all investors.
Risk Alert: Risk levels remain elevated amid persistent trade frictions and geopolitical tensions — all scenarios should be considered plausible.
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: 75.85 | R1: 78.90 |
| S2: 74.70 | R2: 80.75 |
| S3: 72.85 | R3: 81.95 |
