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US Crude Oil Futures Technical Analysis
US crude oil futures declined as anticipated, surpassing our initial target of $93.20 and reaching a session low of $87.04.
Technical Outlook – 4-Hour Timeframe:
Price action has rebounded sharply from the lows and is currently hovering near $91.60. This recovery reflects the correction of severely oversold conditions. The pair remains within a short-term downward corrective wave, reinforced by sustained trading below the simple moving averages.
Bearish Scenario: We maintain a bearish outlook as long as price remains below $97.30. A break below $87.00 would target $86.75, with potential for further losses extending toward $81.80.
Bullish Scenario: A sustained move above $97.30 would reverse the bearish pressure and push prices higher, reducing losses with initial targets beginning at $102.50.
Risk Considerations:
Crude oil trading carries elevated risk and may not be suitable for all investors. The current environment of trade and geopolitical tensions heightens market uncertainty, and multiple scenarios remain viable.
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: 86.75 | R1: 97.30 |
| S2: 81.80 | R2: 102.90 |
| S3: 76.20 | R3: 107.85 |
