Oil Forms a Bullish Technical Pattern 17/9/2025

US crude futures extended their intraday bullish momentum, as anticipated, after breaching the $63.85 resistance, reaching the official target at $64.60 and printing a session high of $64.72 per barrel.

Technical Outlook:

• Moving Averages: The simple moving averages continue to provide dynamic support from below, reinforcing the bullish bias.
• RSI: The Relative Strength Index is maintaining positive momentum, coinciding with the early formation of a bullish technical pattern that supports further upside.

Key Levels:

• Support: $63.30 – Holding above this level protects the bullish scenario.
• Immediate Resistance: $64.75 – A confirmed breakout above this level could pave the way towards $65.10 and potentially $65.80.
• Downside Risk: A break below $63.20 would negate the bullish outlook, exposing the price to renewed selling pressure and a retest of $62.20.

Risk Note: Volatility is expected to spike today with multiple high-impact U.S. events: the FOMC statement, Fed economic outlook, Fed Chair press conference, and the Federal Funds Rate decision.

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: 63.30	R1: 65.10
S2: 62.20	R2: 65.80
S3: 61.50	R3: 66.90