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US Crude Oil (WTI) Technical Analysis
US crude oil futures successfully achieved the $105.20 target outlined in our previous technical report, printing an intraday high of $105.16.
Technical Outlook – 4-Hour Timeframe:
On the short-term horizon, the price remains anchored above the 100-period simple moving average support, while continuing to track along an ascending trendline — a configuration that lends weight to the continuation of the constructive price trajectory.
Adding to the positive picture, the Relative Strength Index (RSI) has successfully exited overbought territory — a development that could supply the price with renewed momentum sufficient to sustain the prevailing uptrend across the upcoming period.
Bullish (Most Likely) Scenario:
As long as trading remains anchored above the $101.80 support — and more broadly above $99.90 — the bullish bias will retain the upper hand, with $105.80 set as the initial target and potential gains extending toward $108.70 as the subsequent objective.
Bearish Scenario:
Conversely, a return and stabilization beneath $101.70 would expose the contract to temporary downside pressure, paving the way for a potential retest of $99.80 before the resumption of the prevailing uptrend.
Disclaimer: Trading oil carries substantial risk and may not be suitable for all investors.
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: 99.30 | R1: 105.80 |
| S2: 95.75 | R2: 108.70 |
| S3: 92.80 | R3: 112.30 |
