WTI Crude Oil, Technical Analysis – H1
The decline has been halted, but we do not yet see the formation of a stable reversal signal.
The decline has been halted, but we do not yet see the formation of a stable reversal signal. As a result, bulls may struggle to overcome the key resistance barrier at $79.00 per barrel.
In the event of renewed escalation in the Gulf, a gap closure around $85.00 could be expected.
Key Levels:
□ 79.00
□ 85.00
Primary Scenario:
Pullback to $79.00, followed by further weakening of the price.
Alternative Scenario:
Breakout and consolidation above $79.00.
Analyst Commentary:
The market remains fully dependent on military-political developments, which means the technical picture can shift rapidly.
Nikolai Krishtopov is a Market Analyst at Investizo with more than 15 years of experience in the financial markets industry and over a decade of trading experience. His areas of focus include forex and crypto markets, technical analysis, intraday trading and market behaviour.