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US Crude Oil (WTI) Technical Analysis
US crude oil futures encountered some selling pressure during the previous trading session, in what appears to be a temporary downside technical correction following the recent string of strong gains.
Technical Outlook – 4-Hour Timeframe:
On the short-term horizon, prices continue to trade above the simple moving averages, which are providing constructive support and reinforcing the prevailing uptrend.
The Relative Strength Index (RSI) has likewise begun to broadcast positive signals after successfully exiting oversold territory — a development that bolsters the probability of a return to bullish momentum across the upcoming period.
Bullish (Most Likely) Scenario:
As long as trading remains anchored above the $100.20 support floor, the bullish bias will retain the upper hand, with the initial target set at $103.20.
Bearish Scenario:
Conversely, a return and stabilization beneath the $100.20 level would expose the contract to renewed negative pressure, with $98.85 emerging as the initial downside target.
Key Economic Events to Watch:
Today’s session features high-impact economic releases that have the potential to amplify volatility across the financial markets:
🇬🇧 United Kingdom:
- Monthly GDP
🇺🇸 United States:
- Retail Sales
Please note that elevated volatility and sharp price swings are likely to materialize around the release of these data points.
Disclaimer: Trading oil carries substantial risk and may not be suitable for all investors.
Risk Alert: Risk levels remain elevated amid persistent trade frictions and geopolitical tensions — all scenarios should be considered plausible.
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: 100.20 | R1: 130.20 |
| S2: 98.85 | R2: 104.90 |
| S3: 97.15 | R3: 106.20 |
