WTI Crude Oil, Technical Analysis – H1
WTI is approaching a critical technical pivot that could determine the short-term direction. A reaction at this level is highly anticipated.
The asset is nearing a significant pivot at $69.70, which is unlikely to be breached without a prior technical pullback. If this scenario plays out, bears will target the demand zone around $68.00.
Key Levels:
□ $69.70 (major pivot / resistance)
□ $70.00 (psychological breakout level)
□ $68.00 (key demand zone)
Primary Scenario:
Rise toward $69.70, followed by a downward reversal targeting $68.00.
Alternative Scenario:
Attempted breakout above $70.00.
Analyst Commentary:
Excluding any military-political factors (which are outside the scope of pure technical analysis), a decline toward $68.00 would represent a standard corrective move.
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.