WTI (USOIL) Price Outlook โ Trade Setup๐ Technical Structure
TVC:USOIL WTI is currently trading within a rising channel, after rebounding from the recent swing lows. Price has found support around the $60.15โ$60.33 support zone, where buying interest has emerged and downside momentum has slowed.
The market structure suggests a potential bullish continuation. As long as WTI holds above the support zone, price action favours a rebound toward the $61.04โ$61.21 resistance zone. The projected path indicates a brief consolidation near current levels, followed by an upside push into the resistance band, rather than an immediate breakdown.
๐ฏ Trade Setup (Bullish Bias)
Entry Zone: 60.15 โ 60.33
Stop Loss: 59.99
Take Profit 1: 61.04
Take Profit 2: 61.20
RiskโReward Ratio: Approx. 1 : 2.26
๐ Invalidation
A sustained break and close below $59.99 would invalidate the bullish setup and signal a deeper downside correction.
๐ Macro Background
The broader macro backdrop remains mixed but supportive for WTI in the near term. Easing geopolitical tensions after President Trump stepped back from tariff threats against European nations have helped stabilize risk sentiment, providing short-term support for crude prices.
At the same time, signals of temporary supply disruptions in Kazakhstan have added upside pressure, as production at major oilfields was halted following power outages. However, the upside remains capped by persistent oversupply concerns, with the International Energy Agency (IEA) reiterating that global oil supply is expected to significantly exceed demand this year.
In the short term, markets are digesting these opposing forces, with price action favouring range-based recovery moves when crude stabilizes at well-defined technical support.
๐ Key Technical Levels
Resistance Zone: 61.04 โ 61.21
Support Zone: 60.15 โ 60.33
Bullish Invalidation: Below 59.99
๐ Trade Summary
WTI is holding above a critical support zone within a rising channel after a corrective pullback. As long as price remains supported above $60.15, the bias favours a buy-on-dips approach, targeting a continuation move toward the upper resistance band.
โ ๏ธ Disclaimer
This analysis is for reference only and does not constitute investment or trading advice. Financial markets involve risk, and traders should manage positions according to their own risk tolerance.
