{"id":128804,"date":"2026-06-23T10:16:26","date_gmt":"2026-06-23T06:16:26","guid":{"rendered":"https:\/\/noortrends.ae\/en\/?p=128804"},"modified":"2026-06-23T10:13:01","modified_gmt":"2026-06-23T06:13:01","slug":"oil-tries-to-rebound-but-remains-trapped-in-a-downtrend-23-6-2026","status":"publish","type":"post","link":"https:\/\/noortrends.ae\/en\/oil-tries-to-rebound-but-remains-trapped-in-a-downtrend-23-6-2026\/06\/23\/tech-analysis\/","title":{"rendered":"Oil Tries to Rebound but Remains Trapped in a Downtrend 23\/6\/2026"},"content":{"rendered":"\n<p><strong>US Crude Oil (WTI) Technical Analysis<\/strong><\/p>\n\n\n\n<p>A bearish trend continues to govern the price action of US crude oil futures in line with our negative projections, with the contract reaching the second formal target at $74.70 and printing an intraday low of $74.74.<\/p>\n\n\n\n<p><strong>Technical Outlook \u2013 4-Hour Timeframe:<\/strong><\/p>\n\n\n\n<p>With respect to intraday dynamics, the Relative Strength Index (RSI) has started to broadcast positive signals after pushing into oversold territory \u2014 a development that could temper the pace of the decline, though without altering the prevailing downside trajectory.<\/p>\n\n\n\n<p>At the same time, the simple moving averages continue to weigh on prices from above, functioning as dynamic resistance zones that cap upside attempts and preserve the selling pressure intact.<\/p>\n\n\n\n<p>Compounding this picture, the continuation of trading beneath the descending trendline represents a major technical hurdle standing in the way of a fully fledged recovery \u2014 strengthening the probability of an extended negative bias unless prices succeed in decisively breaching the pivotal resistance levels and consolidating above them.<\/p>\n\n\n\n<p><strong>Expected Scenarios:<\/strong><\/p>\n\n\n\n<p><strong>Bearish (Most Likely) Scenario:<\/strong><\/p>\n\n\n\n<p>Sustained intraday trading beneath the $76.00 resistance ceiling preserves the advantage of the downtrend, contingent upon a confirmed break below $74.70, with the initial target set at:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>$73.30<\/li>\n<\/ul>\n\n\n\n<p><strong>Bullish Scenario:<\/strong><\/p>\n\n\n\n<p>Conversely, a sustained recovery and stabilization above the $76.00 level would compel prices to recoup their losses, with:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>$78.20 emerging as the initial upside target<\/li>\n<\/ul>\n\n\n\n<p><strong>Disclaimer:<\/strong> Trading oil carries substantial risk and may not be suitable for all investors.<\/p>\n\n\n\n<p><strong>Risk Alert:<\/strong> Risk levels remain elevated amid persistent trade frictions and geopolitical tensions \u2014 all scenarios should be considered plausible.<\/p>\n\n\n\n<p>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<figure class=\"wp-block-table\"><table class=\"has-fixed-layout\"><tbody><tr><td><strong>S1:\u00a0<strong><strong><strong><strong><strong><strong><strong><strong><strong><strong><strong><strong><strong><strong><strong><strong><strong><strong><strong><strong><strong><strong><strong><strong><strong>73.30<\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/td><td><strong>R1: 78.20<\/strong><\/td><\/tr><tr><td><strong>S2:\u00a071.60<\/strong><\/td><td><strong>R2: 81.30<\/strong><\/td><\/tr><tr><td><strong>S3: 68.50<\/strong><\/td><td><strong>R3:\u00a0<strong><strong>83.05<\/strong><\/strong><\/strong><\/td><\/tr><\/tbody><\/table><\/figure>\n","protected":false},"excerpt":{"rendered":"<p>US Crude Oil (WTI) Technical Analysis A bearish trend continues to govern the price action of US crude oil futures in line with our negative projections, with the contract reaching the second formal target at $74.70 and printing an intraday low of $74.74. Technical Outlook \u2013 4-Hour Timeframe: With respect to intraday dynamics, the Relative &hellip;<\/p>\n","protected":false},"author":9,"featured_media":128812,"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-128804","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\/128804","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\/9"}],"replies":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/comments?post=128804"}],"version-history":[{"count":1,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/128804\/revisions"}],"predecessor-version":[{"id":128813,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/128804\/revisions\/128813"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media\/128812"}],"wp:attachment":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media?parent=128804"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/categories?post=128804"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/tags?post=128804"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}