This Crude Oil analysis reviews the commodity from technical and fundamental aspects. It also features trend examination, price forecasts, support and resistance levels, and trading signals.
We update this page daily to ensure you have the latest information by covering the price changes.
Crude Oil Analysis & Live Chart
Crude Oil Fundamental Analysis
Bloomberg—WTI crude oil futures climbed toward the $65 mark on Wednesday, building on a more than 2% increase from the previous day. The rise followed new U.S. sanctions targeting a prominent Iranian individual linked to oil and gas shipments, raising expectations of reduced Iranian crude exports.
Adding to the momentum, preliminary figures revealed a 4.6 million barrel decline in U.S. crude stockpiles last week, which could mark the steepest drop since November if government data confirms it.
Market optimism also grew on signals of progress in trade talks with India and Japan, alongside remarks from U.S. officials highlighting the unsustainable nature of the deadlock with China. Reassurances from President Trump that he won’t replace Federal Reserve Chair Jerome Powell further helped calm investor worries about monetary policy stability.
Crude Oil Technical Analysis
FenzoFx—Crude Oil began consolidating after testing the $65.10 resistance and is currently trading at approximately $64.3, slightly below the resistance.
Technical indicators suggest that the primary trend is bullish, as the price remains above the 50-period simple moving average on the 4-hour chart. Additionally, the Stochastic Oscillator has just stepped above the 20 level, indicating that Oil is overbought. Therefore, the price has the potential to pullback from this level.
From a technical perspective, a new bearish wave could emerge if Oil holds below the $65.10 mark. In this scenario, the next bearish wave could target $62.31, followed by the $61.75 support.
The Bullish Scenario
The bearish outlook should be invalidated if bulls push the price above the immediate resistance at $65.10.
If this scenario unfolds, the current uptick in momentum could extend toward the next resistance area at $67.60.
Crude Oil Support and Resistance Levels
| Support | 63.09 | 61.75 | 58.90 |
| Resistance | 65.10 | 67.60 | 68.80 |
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