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WTI slipped in early trade, consolidating near $59.40.
Technical outlook
- SMAs: Price holds beneath the simple moving averages, which act as dynamic resistance and cap rebounds.
- RSI: Negative momentum signals persist, consistent with a downward bias.
Base case (bearish while below $60.10)
- Staying under $60.10 keeps the risk tilted lower.
- A decisive break/4H close below $59.40 would likely target $59.00, then $58.65.
Invalidation / bounce path
- Reclaiming and holding above $60.10 would negate the immediate bearish setup and allow a corrective push toward $60.70.
Risk note
Volatility is elevated amid trade and geopolitical headlines. Use prudent sizing and firm stops; reassess quickly if the key levels give way.
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: 59.00 | R1: 60.10 |
| S2: 58.65 | R2: 60.70 |
| S3: 58.05 | R3: 61.05 |
