WTI Crude Oil, Technical Analysis – H1

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.