WTI Crude Oil, Technical Analysis – H1
A large “bull flag” continuation pattern has formed, signaling strong potential for further upside.
A large “bull flag” continuation pattern has formed, signaling strong potential for further upside of at least $7 per barrel in the medium term. There is still room left inside the flag, so another pullback toward $77.00 remains possible.
Key Levels:
□ $77.00 (support)
□ $80.00 (upper boundary)
□ $81.00–$82.00 (next upside targets)
Primary Scenario:
Range trading between $77.00 and $80.00.
Alternative Scenario:
Breakout above the flag toward $81.00 and $82.00.
Analyst Commentary:
The bullish scenario is supported by renewed geopolitical tensions in the Strait of Hormuz.
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.