WTI Crude, caution ahead of new US tariffs on IndiaThe WTI Crude Oil is currently trading with a bearish bias, aligned with the broader downward trend. Recent price action shows a retest of the resistance, suggesting a further selling pressure within the downtrend.
Key resistance is located at 6600, a prior consolidation zone. This level will be critical in determining the next directional move.
A bearish rejection from 6600 could confirm the resumption of the downtrend, targeting the next support levels at 6200, followed by 6100 and 6000 over a longer timeframe.
Conversely, a decisive breakout and daily close above 6600 would invalidate the current bearish setup, shifting sentiment to bullish and potentially triggering a move towards 6710, then 6800.
Conclusion:
The short-term outlook remains bearish unless the pair breaks and holds above 6600. Traders should watch for price action signals around this key level to confirm direction. A rejection favours fresh downside continuation, while a breakout signals a potential trend reversal or deeper correction.
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