Oil Buyers Are Losing Steam 16/9/2025

US crude oil (WTI) futures advanced at the start of the week, reaching $63.63 per barrel, though the upward momentum still requires confirmation.

Technical Outlook – 4-hour timeframe:

The 50-period simple moving average continues to support prices from below, providing a solid base for the current move. However, early signs of weakness are appearing on the Relative Strength Index (RSI), indicating a temporary loss of buying momentum. In addition, the broader short-term structure remains aligned with a descending trend line, suggesting continued fluctuation within a narrow range until a clear breakout occurs.

• Key Support: $62.60 – holding above this level keeps the bullish scenario intact.
• Immediate Resistance: $63.85 – a confirmed breakout and close above would open the way to $64.30 and then $64.60.
• Downside Risk: A drop below $62.50 could shift control back to sellers, targeting $62.10 as the next support.

Fundamental Note:

Today’s session includes highly impactful data: U.S. retail sales and Canada’s Consumer Price Index (CPI) (monthly and annual). These releases may trigger sharp price volatility.

Warning: Risks remain high amid ongoing trade and geopolitical tensions, and all scenarios should be considered.

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: 62.75	R1: 63.85
S2: 62.10	R2: 64.30
S3: 61.70	R3: 64.95