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US Crude Oil Futures Technical Analysis
US crude oil futures are exhibiting mixed movements, oscillating between upward and downward trends without establishing a clear directional bias.
Technical Outlook – 4-Hour Timeframe:
Prices have experienced a significant decline, falling below the $100 per barrel level. The failure to breach the simple moving averages has resulted in a bearish crossover, with these key moving averages now exerting downward pressure on price action.
Bearish Scenario: We maintain a bearish outlook as long as prices remain below $99.00. Our initial downside target is $95.00. A break below this level would strengthen the downward corrective trend, potentially accelerating losses toward $93.20.
Bullish Scenario: A sustained recovery above $101.50 could shift momentum upward, targeting $102.95 and subsequently $105.00.
Risk Considerations:
High-impact economic data from the US is expected today, specifically the Producer Price Index (PPI). Significant price volatility is anticipated around the data release.
Crude oil trading carries elevated risk and may not be suitable for all investors. Ongoing trade and geopolitical tensions heighten 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: 93.20 | R1: 102.95 |
| S2: 89.65 | R2: 109.10 |
| S3: 83.45 | R3: 112.70 |
