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Futures are attempting to rebound after posting a $57.70 low, but the broader setup remains fragile.
Technical outlook
- SMAs & structure: Simple moving averages sit overhead and a descending trendline persists—both acting as dynamic resistance and limiting upside.
Base case (bearish while below $60.00)
- As long as price holds beneath $60.00, downside risk prevails.
- Below $58.85 keeps pressure on $58.05; a break there can revisit $57.70.
Invalidation / upside toggle
- A decisive 4H close above $60.00 would neutralize immediate downside and allow a corrective push toward $60.50.
Risk note
Volatility is elevated amid trade and geopolitical headlines. Use prudent sizing and firm stops; reassess quickly if these 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: 58.85 | R1: 60.50 |
| S2: 58.05 | R2: 61.30 |
| S3: 57.30 | R3: 62.10 |
