Crude Oil Weekly Analysis
WTI crude faces a strong rejection at the 4-year resistance zone (~120–125), signaling exhaustion after the recent spike.
With RSI in overbought territory, downside pressure is building toward $81 support.
Unless price reclaims highs, the broader outlook tilts bearish in the near term.
Fundamental: Crude oil plunged 9–11% as US-Iran peace hopes and the reopening of the Strait of Hormuz eased supply concerns.
Brent and WTI dropped sharply, though uncertainty over a lasting deal keeps markets cautious.
WTI TECHNICAL ANALYSIS
Gold Technical Structure: Strong Bearish Candle on Weekly, Bearish Flag on Daily, Trading Above 20SMA on Daily, Bearish Flag on 4H, Consolidation on 1H
Weekly Trend: Bearish
Intraday Trend/ Intraday Strategy: Bearish/Sell on Resistance, Sell on Support Breakdown
Major Support: 81.00, 78.00, 75.00
Major Resistance: 88.00, 90.00, 93.00
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