WTI Crude INTRADAY Bearish below 6871Bearish Scenario:
WTI Crude remains in a bearish trend, with price action aligned with the prevailing longer-term downtrend. The key resistance level to watch is 68.71. If an oversold rally occurs but faces rejection at this level, the downtrend is likely to continue, targeting 66.50, followed by 66.08 and 65.75 as the next downside support zones over a longer timeframe.
Bullish Scenario:
A confirmed breakout above 68.71 and a daily close above this level would invalidate the bearish outlook. This could trigger further upside movement, with resistance targets at 69.34, followed by the psychological 70.00 level.
Conclusion:
The broader outlook remains bearish, but 68.71 is the key pivot level. Rejection from this zone reinforces the downside bias, while a sustained breakout above it could shift momentum toward further gains. Traders should watch price action around this level to determine the next move.
This communication is for informational purposes only and should not be viewed as any form of recommendation as to a particular course of action or as investment advice. It is not intended as an offer or solicitation for the purchase or sale of any financial instrument or as an official confirmation of any transaction. Opinions, estimates and assumptions expressed herein are made as of the date of this communication and are subject to change without notice. This communication has been prepared based upon information, including market prices, data and other information, believed to be reliable; however, Trade Nation does not warrant its completeness or accuracy. All market prices and market data contained in or attached to this communication are indicative and subject to change without notice.
