is trading on the 4-hour timeframe in a recovery phase after rebounding from the $69 low. However, prices continue to face significant technical resistance below the long-term downward-sloping moving average, indicating that the broader trend remains neutral to bearish. At present, WTI is attempting to establish support above $71.00, which has served as a key demand zone and helped stabilize prices in recent trading sessions. Market participants are now awaiting fresh catalysts from both geopolitical developments and upcoming U.S. economic data. From my perspective, $75.68 represents the first major resistance level for buyers, as it aligns with the recent swing high and a significant supply zone. A decisive breakout and sustained close above this level would strengthen bullish momentum, paving the way for a move toward $79.60, followed by $81.16. This area marks the convergence of key horizontal resistance levels and the long-term descending moving average, making it a critical zone where profit-taking or renewed selling pressure could emerge.
On the downside, the bullish outlook remains valid as long as WTI holds above $71.00. A break below this level would confirm the return of bearish pressure, exposing the market to a decline toward $69.00 as the initial downside target, followed by $67.80, which represents the next major support zone. Therefore, crude oil’s near-term direction will depend on whether prices can break above nearby resistance or fall below key support, with volatility expected to remain elevated amid escalating geopolitical tensions and continued market focus on global supply developments.
Support Levels: $71.00 – $69.00 – $67.80 Resistance Levels: $75.68 – $79.60 – $81.16
-1024x683.jpg "Judge Who Helped Violent Illegal Alien Evade ICE Faces New Test")
-1024x683.jpg "Montana Puts Democrats in a Bind as Senate Hopes Fade")
