Oil continues to recover 14/1/2026

U.S. crude oil (WTI) futures successfully met our bullish targets in the previous session, breaking above the key $60.80 level and extending gains to a high of $61.46.

Technical Outlook – 4-Hour Chart

Price action continues to be supported by a favorable technical backdrop. Simple moving averages remain aligned to the upside, acting as dynamic support and confirming the continuation of the prevailing uptrend.

Momentum indicators reinforce this outlook. The Relative Strength Index (RSI) is working to ease overbought conditions while building fresh momentum, a combination that supports the potential for further upside and a renewed breakout.

As long as daily trading remains above the $59.80 support level, the bullish scenario stays intact, with $61.75 as the next upside target. A sustained break above this level would likely strengthen upward momentum, opening the door toward $62.60.

On the downside, a break below $59.80 would temporarily invalidate the bullish structure and shift bias lower, with scope for a corrective pullback toward $58.70 before any renewed recovery attempts.

Market Warnings:

• High-impact U.S. economic data is due today, particularly the monthly Producer Price Index (PPI) and Retail Sales figures, which may trigger sharp volatility.
• Risk levels remain elevated amid ongoing trade and geopolitical tensions, keeping all scenarios on the table.

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: 59.80	R1: 61.75
S2: 58.65	R2: 62.60
S3: 57.80	R3: 63.70