🛢️ Oil at $85.64 is down 2.5% today — but the uptrend structure is still intact. Here's what matters.
WTI Crude closed at $85.64 after touching $87.83. The stock is above ALL key moving averages: 5-day ($86.03), 10-day ($84.24), 20-day ($82.19), and 50-day ($79.09). This is a textbook strong uptrend. Today's pullback is profit-taking, not a reversal.
The energy picture 👇
RSI at 59.1 is leaning bullish — not overbought, not oversold. MACD histogram is positive (+0.28), confirming momentum is still upward. Volume is declining at 0.7x — the pullback lacks conviction. Oil is 10.8% below its 3-month high ($96.02) and 25% above its low ($68.55).
📊 Key Levels:
Support: $84.24 (10-day SMA) | $82.19 (20-day SMA) | $79.09 (50-day SMA)
Resistance: $86.03 (5-day SMA) | $91.30 (technical resistance) | $96.02 (3-month high)
RSI: 59.1 — bullish but not extreme
⚡ Geopolitical tensions in the Middle East continue to support oil prices. OPEC+ production cuts are holding. The pullback from $88 to $85.64 is normal in an uptrend. If $84.24 (10-day SMA) holds, the next target is $91+. If it breaks, expect a test of $82.
Oil heading to $100 or topping out? Your view? 👇
#Oil #Commodities #Trading #DYOR
⚠️ This is not financial advice. Always do your own research before investing.
WTI Crude closed at $85.64 after touching $87.83. The stock is above ALL key moving averages: 5-day ($86.03), 10-day ($84.24), 20-day ($82.19), and 50-day ($79.09). This is a textbook strong uptrend. Today's pullback is profit-taking, not a reversal.
The energy picture 👇
RSI at 59.1 is leaning bullish — not overbought, not oversold. MACD histogram is positive (+0.28), confirming momentum is still upward. Volume is declining at 0.7x — the pullback lacks conviction. Oil is 10.8% below its 3-month high ($96.02) and 25% above its low ($68.55).
📊 Key Levels:
Support: $84.24 (10-day SMA) | $82.19 (20-day SMA) | $79.09 (50-day SMA)
Resistance: $86.03 (5-day SMA) | $91.30 (technical resistance) | $96.02 (3-month high)
RSI: 59.1 — bullish but not extreme
⚡ Geopolitical tensions in the Middle East continue to support oil prices. OPEC+ production cuts are holding. The pullback from $88 to $85.64 is normal in an uptrend. If $84.24 (10-day SMA) holds, the next target is $91+. If it breaks, expect a test of $82.
Oil heading to $100 or topping out? Your view? 👇
#Oil #Commodities #Trading #DYOR
⚠️ This is not financial advice. Always do your own research before investing.