Following recent Middle East tensions, WTI crude oil briefly surged to around $77.
However, the price quickly retraced back to its previous range and seems to have resumed its prior downward trajectory — characterized by a gradual bearish slope.
🔍 It’s important to remember that before the geopolitical events, analysts were eyeing the $52 level as a potential target.
Now, with liquidity being absorbed around the $70 area, that bearish scenario remains valid.
📉 Unless oil decisively breaks above key resistance levels, the outlook continues to favor a slow, downward trend.
However, the price quickly retraced back to its previous range and seems to have resumed its prior downward trajectory — characterized by a gradual bearish slope.
🔍 It’s important to remember that before the geopolitical events, analysts were eyeing the $52 level as a potential target.
Now, with liquidity being absorbed around the $70 area, that bearish scenario remains valid.
📉 Unless oil decisively breaks above key resistance levels, the outlook continues to favor a slow, downward trend.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.