{"id":117886,"date":"2025-08-20T10:45:46","date_gmt":"2025-08-20T06:45:46","guid":{"rendered":"https:\/\/noortrends.ae\/en\/?p=117886"},"modified":"2025-08-20T11:18:17","modified_gmt":"2025-08-20T07:18:17","slug":"oil-remains-on-a-bearish-path-despite-rebound-attempts","status":"publish","type":"post","link":"https:\/\/noortrends.ae\/en\/oil-remains-on-a-bearish-path-despite-rebound-attempts\/08\/20\/tech-analysis\/","title":{"rendered":"Oil Remains on a Bearish Path Despite Rebound Attempts 20\/08\/2025"},"content":{"rendered":"\n

WTI crude oil futures have continued to record consecutive losses over several sessions, with the price reaching its lowest level at $61.68<\/strong> per barrel.<\/h3>\n\n\n\n

Technical Outlook – 4-Hour Timeframe<\/h3>\n\n\n\n

Current price action shows attempted bullish rebounds as the Relative Strength Index (RSI)<\/strong> tries to correct from oversold conditions. Meanwhile, the Simple Moving Averages (SMAs)<\/strong> continue to act as dynamic resistance levels that could limit upward attempts, reinforcing the prevailing bearish trend.<\/p>\n\n\n\n

Probable Scenario<\/strong><\/h3>\n\n\n\n

Bullish Scenario: <\/strong>As long as daily trading remains stable below the 62.50<\/strong> resistance level, the bearish trend is the most favored scenario. We are targeting 61.50<\/strong> as the first support area. A break below this level would increase and accelerate the bearish momentum, paving the way for a visit to 61.00<\/strong>.<\/p>\n\n\n\n

Bearish Scenario: <\/strong>In the event that the price manages to close above the 62.50<\/strong> resistance level, it would give the price an opportunity for a temporary gain starting at 63.00<\/strong> and potentially extending toward 63.50<\/strong>. This rise is contingent on a clear breakout.<\/p>\n\n\n\n

Fundamental Note:<\/strong><\/p>\n\n\n\n

    \n
  • High-Impact Data:<\/strong> Today, we are awaiting high-impact economic data from the U.S. economy: the Federal Reserve’s FOMC Meeting Minutes<\/strong>. This data could cause strong price volatility upon its release.<\/li>\n<\/ul>\n\n\n\n

    Warning<\/strong><\/p>\n\n\n\n

      \n
    • High Risk:<\/strong> The risk level is high amid ongoing trade and geopolitical tensions, and all scenarios could be possible.<\/li>\n<\/ul>\n\n\n\n

      Disclaimer<\/strong><\/p>\n\n\n\n

      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.<\/p>\n\n\n\n

      S1: 61.45<\/strong><\/td>R1: 62.50<\/strong><\/td><\/tr>
      S2: 61.00<\/strong><\/strong><\/td>R2: 63.05<\/strong><\/strong><\/td><\/tr>
      S3: 60.55<\/strong><\/td>R3: 63.60<\/strong><\/td><\/tr><\/tbody><\/table><\/figure>\n","protected":false},"excerpt":{"rendered":"

      WTI crude oil futures have continued to record consecutive losses over several sessions, with the price reaching its lowest level at $61.68 per barrel. Technical Outlook – 4-Hour Timeframe Current price action shows attempted bullish rebounds as the Relative Strength Index (RSI) tries to correct from oversold conditions. Meanwhile, the Simple Moving Averages (SMAs) continue …<\/p>\n","protected":false},"author":13,"featured_media":117894,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[42,41],"tags":[6909],"class_list":["post-117886","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-daily-tech-analysis","category-tech-analysis","tag-wti"],"_links":{"self":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/117886","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/users\/13"}],"replies":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/comments?post=117886"}],"version-history":[{"count":4,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/117886\/revisions"}],"predecessor-version":[{"id":117914,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/117886\/revisions\/117914"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media\/117894"}],"wp:attachment":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media?parent=117886"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/categories?post=117886"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/tags?post=117886"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}