WTI Crude Oil, Technical Analysis – H1
WTI has successfully closed the lower gap near $80 and shifted into an upward move toward the upper gap. Strong impulse and momentum support a high-probability advance toward the $83 area.
The market has successfully closed the lower gap in the $80-per-barrel zone and transitioned into an upward move toward the upper gap (with the blessing of Donald Trump and the IRGC). Impulse and momentum are significant, allowing a high degree of confidence in expecting oil near $83.00.
Key Levels:
□ Resistance / Target: $83.00
□ Intermediate: $81.00
□ Support: $80.00
Primary Scenario:
Rise to $83.00.
Alternative Scenario:
Consolidation in the $80.00–$81.00 range.
Analyst Commentary:
Long positions can be considered on a retest of the $80.00 zone.
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.