Crude Oil Trapped: Negative Sentiment Weighs on Prices 21/4/2026

The downward trend continues to dominate US crude oil futures prices despite attempts to reduce losses.

Technical Outlook – 4-Hour Timeframe:

Trading is currently moving along a descending trendline. This is further supported by continued downward pressure from the simple moving averages, which are exerting downward pressure on the price.

Likely Scenario:

We maintain a bearish outlook as long as the price remains below the resistance level of 88.85. A confirmed break below 84.80 would strengthen the downward trend, potentially leading to a target of 83.20.

Conversely, a return to price stability above 88.85 could trigger a rapid recovery, with initial targets starting at 91.20.

Note: Today, we await high-impact economic data from the US economy, specifically retail sales figures for March. Significant price volatility is expected around the time of the release, as these figures will provide insight into how energy price spikes have impacted consumer spending.

Caution: The risk level is high amid ongoing trade and geopolitical tensions, and all scenarios remain possible. Trading in oil involves high 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: 84.80	R1: 88.85
S2: 83.20	R2: 91.20
S3: 80.75	R3: 92.90