WTI Crude Oil (USOIL) – Bearish Momentum Below $70.49 WTI Crude Oil (USOIL) Analysis – February 24, 2025
WTI Crude Oil is currently trading at $70.18, and as long as the price trades below $70.49, the bearish momentum remains dominant.
🔻 Bearish Scenario (Active)
✅ The price failed to reclaim the pivot zone at $71.78, leading to continued selling pressure.
✅ A confirmed break below $70.49 indicates a potential drop toward $68.53 and $67.03 as the next bearish targets.
✅ The monthly support trendline around $67 - $68 will act as a key level to watch for a potential reaction.
🔹 Bullish Reversal (Invalid Unless Above $71.78)
⚠️ If the price closes above $71.78, we could see a potential pullback toward $72.72 and $75.00.
⚠️ However, the trend remains bearish while trading below $70.49, meaning any bullish movements will likely be corrective bounces rather than a full reversal.
📌 Key Levels to Watch
🔹 Resistance Levels: $71.78 | $72.72 | $75.00
🔹 Pivot Zone: $70.49
🔹 Support Levels: $68.53 | $67.03 | $66.20
🚨 Directional Bias: Bearish as long as the price stays below $70.49. Expect further downside pressure toward $68.53 - $67.03.
