USOUSD (WTI Crude Oil) | H1 – Potential Bearish Reversal
WTI crude oil continues its bullish recovery, establishing a series of higher highs and higher lows after rejecting the major support region around $92.
Price is currently approaching a significant supply zone between $104.40–$105.00, where previous selling pressure triggered a substantial bearish move.
My outlook:
I anticipate further bullish continuation toward this supply zone, potentially sweeping nearby liquidity before sellers regain control.
A confirmed rejection and bearish structural shift could initiate a corrective move toward $97.50, a key previous resistance level.
A sustained breakout and acceptance above $105 would invalidate the immediate bearish scenario.
Bias: Short-term bullish | Potential bearish reversal at supply.
This is a conditional technical scenario, not a confirmed reversal.
WTI crude oil continues its bullish recovery, establishing a series of higher highs and higher lows after rejecting the major support region around $92.
Price is currently approaching a significant supply zone between $104.40–$105.00, where previous selling pressure triggered a substantial bearish move.
My outlook:
I anticipate further bullish continuation toward this supply zone, potentially sweeping nearby liquidity before sellers regain control.
A confirmed rejection and bearish structural shift could initiate a corrective move toward $97.50, a key previous resistance level.
A sustained breakout and acceptance above $105 would invalidate the immediate bearish scenario.
Bias: Short-term bullish | Potential bearish reversal at supply.
This is a conditional technical scenario, not a confirmed reversal.
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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.