WTI Oil Outlook — Gap Filled, Key Breakout Level Ahead

Oil markets began the week with a strong gap-up near 102.00, but the bullish momentum faded quickly as prices retraced sharply during the Euro–US session, completely filling the gap.

The decline accelerated after reports that the United States and Iran may continue diplomatic talks — easing immediate supply fears and weighing on prices.

On Tuesday, price dropped to 90.65, but sellers failed to maintain control. Currently, oil is stabilizing above the 0.5 Fibonacci level (91.75), which is acting as key short-term support.

📊 Key Levels to Watch

🔺 Resistance:

R1: 93.25

R2: 95.50

🔻 Support:

S1: 91.75

S2: 89.00

🎯 Market Scenarios

📈 Bullish Scenario:

If price breaks above 93.25, momentum may push oil toward the 95.50 resistance zone.

📉 Bearish Scenario (Alternative):

A sustained 4H close below 91.75 could trigger another leg down toward the 89.00 support zone.

🧠 Trader’s Insight

Gap fills often lead to decision zones, and the market is now approaching a breakout point.

Patience is key — wait for confirmation rather than reacting inside the range.

⚠️ Conclusion:

Oil is at a critical level where the next breakout could define the short-term trend.

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