Crude Oil Weekly Analysis
WTI crude faces a strong rejection at the 4-year resistance zone (~120–125), signaling exhaustion after the recent spike.
With RSI in overbought territory, downside pressure is building toward $81 support.
Unless price reclaims highs, the broader outlook tilts bearish in the near term.
Fundamental: Crude oil plunged 9–11% as US-Iran peace hopes and the reopening of the Strait of Hormuz eased supply concerns.
Brent and WTI dropped sharply, though uncertainty over a lasting deal keeps markets cautious.
WTI TECHNICAL ANALYSIS
Strong Bearish Candle on Weekly, Bearish Flag on Daily, Trading Above 20SMA on Daily, Bearish Flag on 4H, Consolidation on 1H
Weekly Trend: Bearish
Intraday Trend/ Intraday Strategy: Bearish/Sell on Resistance, Sell on Support Breakdown
Major Support: 81.00, 78.00, 75.00
Major Resistance: 88.00, 90.00, 93.00
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