Crude Oil Technical Analysis

Note: This section contains information in English only.
Source: Dukascopy Bank SA
WTI Crude Oil is at a key decision point after a period of high volatility. The price has been consolidating in a narrowing range, forming a descending triangle with resistance from a trendline near recent highs. Immediate resistance is at 94.03, with further hurdles around 98.10 and 101.00. Support lies at 91.72, and if that fails, the next significant level is the 90-period SMA at 83.72.



The 90-period SMA is rising at 83.72, indicating a bullish medium-term trend, though the gap suggests a possible pullback if resistance holds. The RSI is neutral at 54.52, showing no strong momentum and signaling the market is waiting for a catalyst.
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