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Market Analysis: WTI Crude Oil Attempts ReboundMarket Analysis: WTI Crude Oil Attempts Rebound WTI Crude oil is now attempting to recover after sliding toward $56.00. Important Takeaways for WTI Crude Oil Price Analysis Today - WTI Crude oil prices extended losses below the $60.00 support zone. - It cleared a key bearish trend line with resistance at $57.50 on the hourly chart of XTI/USD. WTI Crude Oil Price Technical Analysis On the hourly chart of WTI Crude Oil, the price struggled to continue higher above $62.00 against the US Dollar. The price formed a short-term top and started a fresh decline below $61.20. There was a steady decline below the $60.00 pivot level. The bears even pushed the price below $58.50 and the 50-hour simple moving average. Finally, the price tested $56.00. The recent swing low was formed near $55.94, and the price is now correcting losses. There was a move above the 23.6% Fib retracement level of the downward move from the $62.45 swing high to the $55.94 low. The price cleared a key bearish trend line with resistance at $57.50. On the upside, immediate resistance is near the 50% Fib retracement at $59.20. The main hurdle is $59.95. A clear move above $59.95 could send the price toward $62.45. The next stop for the bulls might be $64.00. If the price climbs further, it could face sellers near $65.00. Immediate support is $57.50. The next major level on the WTI crude oil chart is $55.95. If there is a downside break, the price might decline toward $55.00. Any more losses may perhaps open the doors for a move toward the $52.00 zone. This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
FXOPEN:XTIUSD
by FXOpen
1
XTI/USD Chart Analysis: Oil Prices Fall to Yearly LowsXTI/USD Chart Analysis: Oil Prices Fall to Yearly Lows As shown on the XTI/USD chart, WTI crude is trading below $57 today, with the 2025 low sitting near $55. Several factors are currently weighing on oil prices: → Uncertainty surrounding the US-China trade deal — the world’s two largest oil consumers — continues to cloud the outlook for global growth and crude demand. → Increased output from OPEC+ members has added further pressure, with the IEA last week raising its forecast for a global oil surplus. → A decline in the risk premium following the peace agreement in the Middle East has also reduced support for oil prices. So, what could happen next? Technical Analysis of the XTI/USD Chart Seven days ago, we noted that: → In the long-term context, oil price fluctuations — following the June escalation in the Middle East — have formed a downward channel (shown in red). The current price has now slipped below its lower boundary. → In the short term, the pace of the decline appears to be accelerating, highlighted by the purple trajectory lines. At that time, we suggested a scenario in which WTI could drift towards its yearly low near $55, which is now materialising. However, note the following: → The RSI indicator is hovering near oversold territory. → The chart shows signs of a Falling Wedge pattern, which often precedes a bullish reversal. Given these signals, it is reasonable to assume that, after a roughly 10% decline since the start of the month, bears may begin locking in profits on short positions. This could trigger a technical rebound in WTI prices — potentially towards the resistance area defined by: → The lower boundary of the red channel; → The psychological level of $60; → The median line of the purple channel. This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
FXOPEN:XTIUSD
by FXOpen
1
Oil market sentiment remains bearish near termOil market sentiment remains bearish near term Oil prices slipped as supply glut fears and renewed U.S.–China trade tensions weighed on sentiment. The IEA projected a potential 4 million bpd surplus in 2026, citing rising OPEC+ output and weak demand. Massive oil volumes in transit and storage are expected to reach key hubs soon, adding to oversupply pressure. Trade friction between Washington and Beijing intensified after new tariff threats and export curbs, raising concerns over slower global growth and lower energy demand. Analysts note that geopolitical risk has faded, shifting focus to inventory data. Traders await U.S. crude and gasoline stock reports due Oct. 15, with expectations of a 200,000-barrel rise in crude inventories and draws in fuel products. Outlook: Market sentiment remains bearish near term, with weak demand signals and high supply overshadowing minor geopolitical support.
FOREXCOM:USOILShort
by ProfessorSingapore
XTI/USD Chart Analysis: Oil Price Falls Below $60XTI/USD Chart Analysis: Oil Price Falls Below $60 Friday’s comments from President Trump about the potential introduction of 100% tariffs on trade with China pushed WTI crude oil below the $60 level for the first time in four months. The bearish sentiment stemmed from fears of a global economic slowdown amid escalating trade tensions between the world’s two largest economies. The decline was further supported by news of peace efforts in the Middle East, which reduced the impact of geopolitical risk on oil prices. As the XTI/USD chart shows, WTI is currently trading below $60. How might the situation unfold next? Technical Analysis of the XTI/USD Chart In the long-term view, oil price movements (following the flare-up in the Middle East in June) have formed a descending channel shown in red — notably, the current price has fallen below its lower boundary. In the shorter term, we can observe an acceleration of the decline, emphasised by the purple trajectory lines. These observations suggest that selling pressure remains dominant, while any recovery attempts are likely to meet resistance near: → the psychological level of $60; → the lower boundary of the red channel; → the purple median line. Given that the White House is reportedly in favour of lower oil prices (as a means of stimulating the US economy and exerting pressure on geopolitical rivals), WTI crude could drift towards the year’s low around $55. However, from the demand-side perspective, it cannot be ruled out that the oil market, known for its false breakouts above previous highs (A, B, C), may repeat a similar move above peak D — a pattern that, in Smart Money Concept terms, would represent a liquidity grab. This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
FXOPEN:XTIUSD
by FXOpen
1
Oil Market: Bearish to neutral — potential for a rebound if $6,0Oil Market: Bearish to neutral — potential for a rebound if $6,000 holds Crude and gasoline prices fell on Oct. 9 as market sentiment shifted amid rising supply expectations. OPEC+ agreed to raise output by 137,000 bpd starting November, well below expectations of a 500,000 bpd hike. The group continues to unwind earlier cuts, aiming to restore 1.66 million bpd of production by year-end. OPEC’s September output rose 400,000 bpd to 29.05 million bpd, a 2.5-year high. On Oct. 10 supply concerns eased after Israel accepted a U.S.-brokered cease-fire deal in Gaza, reducing geopolitical risk premiums. Still, new U.S. sanctions on Iran—targeting over 50 entities linked to oil and LPG trade—helped limit further losses. Russian supply disruptions remain a supportive factor after drone attacks forced shutdowns at key refineries, while floating storage volumes fell 7% week-on-week to 82.8 million barrels, signaling tighter near-term supply. Meanwhile, Iraq’s plan to resume Kurdish exports (up to 500,000 bpd) could weigh on prices, offsetting some of the geopolitical support. EIA data showed U.S. crude inventories 4.5% below the 5-year average, with production up 0.9% w/w to 13.63 million bpd, near record highs. Active U.S. oil rigs slipped by two to 422, just above the four-year low. Outlook: Crude oil continues to display a bearish short-term structure, extending its recent downtrend after failing to sustain above the $6,300–$6,350 resistance zone. The price has now revisited the local support area around $6,050–$6,000, which has acted as a key pivot level in recent sessions. ANZ Research expects near-term downside risks amid higher OPEC+ supply and weaker refinery demand, though low stockpiles outside China may cushion prices into 2026. A clean rebound from $6,000 could trigger a short-covering move toward $6,200–$6,300.
FOREXCOM:USOILShort
by ProfessorSingapore
Market Analysis: WTI Crude Oil StrugglesMarket Analysis: WTI Crude Oil Struggles Crude oil is recovering and might rise toward the $63.20 resistance zone. Important Takeaways for WTI Crude Oil Price Analysis Today - WTI Crude oil is recovering losses and trading above $61.20. - There is a short-term rising channel in place with support at $61.20 on the hourly chart of XTI/USD. WTI Crude Oil Price Technical Analysis On the hourly chart of WTI Crude Oil, the price found support near $60.25 against the US Dollar. The price formed a base and started a recovery wave above $60.80 and the 50-hour simple moving average. The bulls were able to push the price above the 23.6% Fib retracement level of the downward move from the $66.16 swing high to the $60.26 swing low. The hourly RSI is above the 60 level, but the price is struggling near $62.00. The next hurdle could be $63.20 and the 50% Fib retracement. A clear move above $63.20 could send the price toward $63.90. Any more gains might open the doors for a test of $64.75. Conversely, the price might start a fresh decline from $62.00. Immediate support sits near $61.20 and the 50-hour simple moving average. There is also a short-term rising channel in place at $61.20. The key breakdown zone on the WTI crude oil chart might be $60.25. If there is a downside break, the price might decline toward $58.40. Any more losses might encourage the bears for a push toward $55.00. This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
FXOPEN:XTIUSD
by FXOpen
Crude Oil: Bullish Momentum Builds Above $62.13FenzoFx—Crude Oil tapped into the liquidity below the equal lows at $62.13. However, the cumulative volume profile did not form new lower lows. This means the market could be bullish, at least in the short term. Therefore, we expect Oil to rise higher. The immediate resistance is at $62.74. From a technical perspective, the price could target the bearish FVG with resistance at $64.84 if bulls close and stabilize the price above $62.74.
CFI:WTI
by FenzoFxBroker
Oil prices extend losses on supply concernsOil prices extend losses on supply concerns Oil prices slipped Thursday, extending last week’s decline on oversupply worries and uncertainty from the U.S. government shutdown. Expectations that OPEC+ may raise output by up to 500,000 bpd in November, along with forecasts of a potential glut, weighed on sentiment. Geopolitical risks remain in focus, with the G7 vowing tighter controls on Russian oil and the U.S. set to aid Ukraine with intelligence for strikes on energy infrastructure. Still, Chinese stockpiling helped limit losses. Concerns over Russian supply disruptions and steady Chinese stockpiling provided some support, but U.S. data showing rising crude and fuel inventories added to bearish pressure.
FOREXCOM:USOILLong
by ProfessorSingapore
Crude Oil Ready to Explode ? Watch This Key Support Pattern!Crude Oil (4H & 15Min Chart) Analysis: Crude Oil is moving within a well-defined parallel channel on the 4-hour timeframe, with a strong support zone at 5480–5490. On the 15-minute chart, a descending broadening wedge is forming, with the pattern support zone also near 5480–5490 and pattern resistance around 5600. Potential breakout target: 5700. If the support zone holds, we may see higher prices in Crude Oil. Summary: Key support at 5480–5490 is critical. Watch for a breakout above 5600 for a potential upside move toward 5700. Thank you !!
MCX:CRUDEOIL1!Long
by FiveCircles
WTI Crude Oil ReboundsWTI Crude Oil Rebounds Crude oil is recovering and might rise toward the $64.30 resistance zone. Important Takeaways for WTI Crude Oil Prices Analysis Today - WTI Crude oil is recovering losses and trading above $62.60. - There is a major bearish trend line in place with resistance near $63.65 on the hourly chart of XTI/USD. WTI Crude Oil Price Technical Analysis On the hourly chart of WTI Crude Oil, the price found support near $61.60 against the US Dollar. The price formed a base and started a recovery wave above $62.60 and the 50-hour simple moving average. The bulls were able to push the price above the 50% Fib retracement level of the downward move from the $64.32 swing high to the $61.58 swing low. The hourly RSI is above the 60 level, but the price is struggling near $63.65. Besides, there is a major bearish trend line in place with resistance near $63.65. It coincides with the 76.4% Fib retracement. A close above the trend line resistance might send the price toward the $64.32 high. The next hurdle could be $65.00. A clear move above $65.00 could send the price toward $66.25. Any more gains might open the doors for a test of $68.00. Conversely, the price might start a fresh decline from $63.65. Immediate support sits near $62.95. The key breakdown zone on the WTI crude oil chartmight be $62.60 and the 50-hour simple moving average. If there is a downside break, the price might decline toward $62.60. Any more losses might encourage the bears for a push toward the $61.58 low. This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
FXOPEN:XTIUSD
by FXOpen
1
Crude Oil: Bearish FVG in Play Amid ConsolidationFenzoFx—Crude Oil is trading at $64.18, slightly below the bearish fair value gap. The sweep of yesterday’s lows suggests potential for a test of higher resistance. Immediate support is at $63.80. If this level holds, Oil may fill the bearish FVG and test resistance at $65.00. A break above could extend gains toward $66.50. However, if price declines and stabilizes below $63.80, the bullish outlook is invalidated. In that case, the downtrend may resume, targeting the equal lows at $62.20.
CFI:WTI
by FenzoFxBroker
Oil gains amid geopolitical risks, supply outlookOil gains amid geopolitical risks, supply outlook Oil rose in early trade as markets weighed rising geopolitical tensions against forecasts of oversupply. Trump warned of major sanctions on Russia and urged allies to impose steep tariffs on China and India for buying its crude, while Ukraine’s drone strikes on Russian refineries added to risks. Goldman Sachs expects oil to trend lower next year on strong supply growth but says prices may rebound sooner if inventories peak or OPEC cuts output. The bank now sees Brent in the low $50s and WTI near $50 by end-2026.
FOREXCOM:USOILShort
by ProfessorSingapore
Oil slips on weak U.S. demand, supply glut concernsOil slips on weak U.S. demand, supply glut concerns Oil prices dipped late Thursday as U.S. crude stocks rose 3.9M barrels, defying forecasts for a decline, while the IEA lifted supply estimates, signaling a larger surplus ahead. Losses were capped by rising geopolitical risks, with the U.S. and EU weighing tougher sanctions on Russia after fresh Ukraine-related tensions. Traders now balance bearish fundamentals with potential supply disruptions.
FOREXCOM:USOILLong
by ProfessorSingapore
Oil near $63 as Middle East tensions and tariff risks drive gainOil near $63 as Middle East tensions and tariff risks drive gains WTI crude traded around $63 August 10, marking a third day of gains as Middle East tensions escalated after Israel struck Hamas leadership in Qatar. The move adds to years of regional operations and heightens supply concerns, supported by OPEC+’s smaller October output hike. Meanwhile, U.S. President Trump urged the EU to impose 100% tariffs on Chinese and Indian goods to pressure Russia, with Washington ready to match. U.S. crude inventories rose 1.25M barrels, tempering the rally. Global stocks gained and the dollar steadied ahead of key U.S. inflation data, while gold held near record highs.
FOREXCOM:USOILLong
by ProfessorSingapore
Market Analysis: WTI Crude Oil StrugglesMarket Analysis: WTI Crude Oil Struggles Crude oil is showing bearish signs and might decline below $62.25. Important Takeaways for WTI Crude Oil Price Analysis Today - Crude oil price failed to clear the $65.60 region and started a fresh decline. - There is a short-term bullish trend line forming with support at $62.25 on the hourly chart of XTI/USD. WTI Crude Oil Price Technical Analysis On the hourly chart of WTI Crude Oil, the price struggled to clear $65.60 against the US Dollar. The price started a fresh decline below $64.60. The bears gained strength and pushed the price below $62.00. Finally, the price tested $61.20 and recently started a recovery wave. There was a move above $62.00, the 50-hour simple moving average, and the 23.6% Fib retracement level of the downward move from the $65.63 swing high to the $61.23 low. The bears are now active near $63.00. If there is a fresh increase, the price could face a barrier near $63.05. The first major resistance is near the 50% Fib retracement at $63.40. The next stop for the bulls could be near $64.60. Any more gains might send the price toward $65.60. Conversely, the price might start another decline and test a short-term bullish trend line with support at $62.25 and the 50-hour simple moving average. The next major support on the WTI crude oil chart is $61.20. If there is a downside break, the price might decline toward $60.50. Any more losses may perhaps open the doors for a move toward $60.00. This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
FXOPEN:XTIUSD
by FXOpen
1
U.S. Natural Gas holds near 4-week highU.S. Natural Gas holds near 4-week high as storage builds match forecasts U.S. natural gas stayed near a four-week high Thursday after EIA data showed inventories rose by 55 Bcf to 3,272 Bcf for the week ending Aug. 29, in line with expectations. Stocks remain 2.2% below last year but 5.6% above the five-year average, signaling ample supply despite record LNG exports and strong demand. Higher production, with dry gas output at 107.1 Bcf/day, continues to pressure prices, while weather forecasts calling for warmer temperatures in mid-September may support short-term demand. LNG flows hit 15 Bcf/day, near record highs, as U.S. exports remain strong amid European and Asian demand.
CAPITALCOM:NATURALGAS
by ProfessorSingapore
Oil Market Faces Balancing Act as Supply Risks Meet Glut FearsOil Market Faces Balancing Act as Supply Risks Meet Glut Fears Russian supply risks are clashing with growing concerns of a global supply glut as summer winds down. Crude benchmarks gained over 1% in the previous session after the EIA reported a larger-than-expected draw in U.S. crude inventories, though the pace of declines slowed from the prior week. Analysts warn that OPEC+ unwinding production cuts, combined with rising output from non-member producers, could tip the market into surplus, according to MUFG’s Soojin Kim. While Brent continues to trade at a near-term premium, signaling tight supplies, that premium has narrowed — a sign of softening demand expectations ahead.
FOREXCOM:USOILShort
by ProfessorSingapore
XTI/USD Analysis: Oil Price Falls 2.8% from This Week’s HighXTI/USD Chart Analysis: Oil Price Falls 2.8% from This Week’s High As the XTI/USD chart shows, this morning (27 August) WTI crude oil is trading around the $63 level, although on Monday it climbed above $64.70. This means the price has retreated by approximately 2.8% from this week’s high. The bearish momentum may be linked to the market’s reassessment of geopolitical risks. According to Reuters, US Special Representative Steve Witkoff stated that: → he will meet with a Ukrainian delegation in New York this week; → the US administration is also in talks with Russia, seeking to bring the war to an end. He also noted that Washington is striving for de-escalation in the Middle East. We could assume that market participants are pricing in the possibility that these efforts could lead to the easing of sanctions and reduce risks and restrictions in global oil trade. Technical Analysis of the XTI/USD Chart On 19 August, we highlighted that: → the August downtrend remained intact, though it appeared to be weakening; → bulls might exploit this situation and attempt to launch an attack. Indeed, since then the price rallied to a peak near $64.80, forming an upward trajectory shown by the orange lines. However, at the start of this week, momentum shifted back to the bears, as evidenced by a series of bearish signals on the chart: → Yesterday, bulls attempted to resume the upward trend from the lower orange boundary but failed – this was reflected in a candlestick with a long upper shadow, touching the $64 level before reversing downwards. → Bears then built on this success, pushing the price below $63.50 (where the lower orange line had been positioned). → This morning, WTI is trading close to weekly lows, highlighting the bulls’ inability to counter the pressure. As a result, bears have driven the price back into the descending channel that has been in place since the start of the month. Given the above, we could assume that the market may continue to develop bearish dynamics within this downward channel – with WTI potentially heading towards the red median line. The forthcoming oil inventory report (due today at 15:30 GMT+3) might have a significant influence on how the situation unfolds. This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
FXOPEN:XTIUSD
by FXOpen
1
Market Analysis: WTI Crude Oil Faces HurdlesMarket Analysis: WTI Crude Oil Faces Hurdles Crude oil is showing bearish signs and might decline below $62.80. Important Takeaways for WTI Crude Oil Price Analysis Today - Crude oil prices failed to clear the $65.00 region and started a fresh decline. - There was a break below a major bullish trend line with support at $64.00 on the hourly chart of XTI/USD. WTI Crude Oil Price Technical Analysis On the hourly chart of WTI Crude Oil, the price struggled to clear the $65.00 level and started a fresh decline below $64.50. There was a break below a major bullish trend line at $64.00, opening the doors for more losses. The price dipped below the 50% Fib retracement level of the upward move from the $61.56 swing low to the $64.85 high. XTI/USD even dipped below $63.50 level and the 50-hour simple moving average. The bulls are now active near $63.00. If there is a fresh increase, it could face a barrier near $63.70. The first major resistance is near $64.10. Any more gains might send the price toward $64.85 and call for a test of $65.50. Conversely, the price might continue to move down and revisit the $62.80 support and the 61.8% Fib retracement. The next major support on the WTI crude oil chart is $62.35. If there is a downside break, the price might decline toward $61.55. Any more losses may perhaps open the doors for a move toward $60.50. This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
FXOPEN:XTIUSD
by FXOpen
WTI Steadies as Rate-Cut Bets and Supply Risks CollideWTI Steadies as Rate-Cut Bets and Supply Risks Collide WTI crude hovered around $64 on August 25, steady after last week’s gains as traders balanced U.S. rate-cut expectations with geopolitical risks. The Fed is seen 85% likely to cut rates in September, boosting demand outlooks. Supply concerns persist after Washington threatened 50% tariffs on Indian imports over Russian oil purchases, while India signaled it will keep buying from Moscow. Stalled Russia-Ukraine talks and renewed attacks on energy infrastructure add to uncertainty.
FOREXCOM:USOILLong
by ProfessorSingapore
Oil Prices Drop on Russia-Ukraine Talks HopeOil prices decline in anticipation of potential negotiations between Russia and Ukraine U.S. President Donald Trump announced plans to facilitate a meeting between Ukrainian President Volodymyr Zelenskiy and Russian President Vladimir Putin, following his Monday summit with Zelenskiy and European leaders. Zelenskiy called the talks with Trump “very productive,” highlighting discussions on U.S. security assurances for Ukraine. A resolution to the Russia-Ukraine conflict could lift sanctions on Russian energy exports, freeing up crude oil trade. Oil prices have dropped around 10% this month due to trade tensions and increased OPEC+ production. Technically the price consolidates below the intermediate 6,300.00, forming the bearish pennant. Price is getting ready to decline. Here, the first target will be the major level of 6,000.00.
FOREXCOM:USOILShort
by ProfessorSingapore
Market Analysis: WTI Crude Oil Struggles In RedMarket Analysis: WTI Crude Oil Struggles In Red WTI Crude oil is also down and remains at risk of more losses below $62.00. Important Takeaways for WTI Crude Oil Price Analysis Today - WTI Crude oil prices extended losses below the $65.00 support zone. - A major bearish trend line is formed with resistance at $63.05 on the hourly chart of XTI/USD. WTI Crude Oil Price Technical Analysis On the hourly chart of WTI Crude Oil, the price struggled to continue higher above $66.00 against the US Dollar. The price formed a short-term top and started a fresh decline below $65.00. There was a steady decline below the $64.50 pivot level. The bears even pushed the price below $63.50 and the 50-hour simple moving average. Finally, the price tested the $62.15 zone, and the price is now consolidating losses. On the upside, immediate resistance is near the 23.6% Fib retracement level of the downward move from the $65.98 swing high to the $62.15 low at $63.05. There is also a major bearish trend line at $63.05 and the 50-hour simple moving average. The main hurdle is $63.50. A clear move above the $63.50 zone could send the price toward the 61.8% Fib retracement level at $64.50. The next key resistance is near $66.00. If the price climbs further higher, it could face sellers near $68.00. Any more gains might send the price toward the $70.00 level. Immediate support is near the $62.15 level. The next major level on the WTI crude oil chart is near $61.20. If there is a downside break, the price might decline toward $60.00. Any more losses may perhaps open the doors for a move toward the $55.00 zone. This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
FXOPEN:XTIUSD
by FXOpen
1