🛢️ WTI Crude $85.68 — strong uptrend but volume is fading. Bull trap or continuation?
Oil has rallied from $68 to $85 over the past month (+25%). But today's -1.6% on declining volume (0.59x ratio) is a warning sign. RSI 55.9 is still bullish, but the $87-91 resistance zone is proving tough to break.
📊 Technical Snapshot:
- Price: $85.68 (-1.59%)
- RSI: 55.9 (leaning bullish)
- MACD: 1.40 (bullish)
- Volume: 25,571 contracts (0.59x — weak conviction)
- Trend: Strong uptrend but losing momentum
🎯 Key Levels:
Support: $70.44 (3-month low) | Resistance: $87.06 (prev close) / $91.30 (3-month high)
💡 Oil is a macro play — watch US dollar strength and OPEC+ production data. If $87 breaks with volume, we're going to $91. If not, expect a pullback to $82.
Is oil going to $90 or back to $75? Drop your take 👇
#Oil #Commodities #DYOR
⚠️ Not financial advice. Always do your own research.
Oil has rallied from $68 to $85 over the past month (+25%). But today's -1.6% on declining volume (0.59x ratio) is a warning sign. RSI 55.9 is still bullish, but the $87-91 resistance zone is proving tough to break.
📊 Technical Snapshot:
- Price: $85.68 (-1.59%)
- RSI: 55.9 (leaning bullish)
- MACD: 1.40 (bullish)
- Volume: 25,571 contracts (0.59x — weak conviction)
- Trend: Strong uptrend but losing momentum
🎯 Key Levels:
Support: $70.44 (3-month low) | Resistance: $87.06 (prev close) / $91.30 (3-month high)
💡 Oil is a macro play — watch US dollar strength and OPEC+ production data. If $87 breaks with volume, we're going to $91. If not, expect a pullback to $82.
Is oil going to $90 or back to $75? Drop your take 👇
#Oil #Commodities #DYOR
⚠️ Not financial advice. Always do your own research.