Crude Oil (WTI) Technical OutlookCrude Oil (WTI) has recently tested a critical resistance zone around $65, showing strong upside momentum after weeks of consolidation. The chart structure suggests a potential bullish breakout, with price action forming higher lows and pressing against a key supply level.
If WTI holds above $65, the next upside targets lie at:
$67.80 – intermediate resistance
$68.98 – major technical level aligned with previous supply
$70.50 – $71.00 – key psychological resistance and prior swing high
A short-term retest of $65 may act as confirmation before continuation toward the $70+ region. Failure to hold above $64.50 could invalidate the bullish scenario and open a move back toward $62.
This analysis highlights institutional order flow dynamics and key liquidity levels, indicating that crude oil may be setting up for a significant directional move. Traders should watch for clean breaks and retests at major support/resistance zones before positioning.
📌 Summary:
Bias: Bullish above $65
Targets: $67.80 → $68.98 → $70.50+
Risk: Breakdown below $64.50
