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 to about $62.25 per barrel on Thursday, marking their second consecutive daily increase. The rise comes as traders react to fresh U.S. sanctions targeting Iran’s oil industry, including penalties against a Chinese independent refinery, which could limit global supply.
Additional concerns emerged after OPEC+ announced that countries like Iraq and Kazakhstan submitted revised plans to cut production further in response to exceeding output limits.
Despite these supply risks, several major institutions—including OPEC, the International Energy Agency, Goldman Sachs, and JP Morgan—lowered their forecasts for oil prices and demand growth earlier in the week due to growing trade tensions.
On a more positive note, crude prices gained support from optimism around potential U.S.-China trade talks, following signals from Beijing that discussions could resume under certain conditions. Overall, oil is up over 2% for the week, potentially logging its first weekly gain this month.
Crude Oil Technical Analysis
FenzoFx—Crude Oil began a bullish wave from $55.15, trading at approximately $62.20 as of this writing. However, the uptick in momentum eased near the $63.90 resistance.
On the technical front, the Stochastic Oscillator is in the overbought territory, meaning the black gold is overpriced in the short term. The primary trend remains bearish as long as the price is below the $63.90 resistance. That said, the oil price has the potential to dip again toward the $58.90 support.
Furthermore, if the selling pressure drives the price below this support, the downtrend will intensify. If this scenario unfolds, the next bearish target could be the $55.15 support.
Please note that the bearish scenario will be considered invalid if Crude Oil exceeds $63.90. In this scenario, the next bullish target could be the $65.10 resistance.
Crude Oil Support and Resistance Levels
| Support | 58.90 | 55.00 | 50.00 |
| Resistance | 64.10 | 67.60 | 68.80 |
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