The price of oil was in a clear descending channel through most of 2025. However, with the start of the Middle East War in early March, WTI crude exploded.
The price is in the process of completing a bullish flag / ascending wedge / triangle pattern around the $85–110 zone. If it continues toward a triangle pattern, the apex at around $94-95/bbl will play a key role. A hold above this level will keep the bull case intact.
Paradigm: Despite the US administration signaling de-escalation and pushing peace rhetoric, the oil market has not been affected much - bearish signs have been shrugged off. The war premium remains firmly priced in, and it seems oil supply disruptions are here to last longer.
Several analysts have flagged $150/bbl as a realistic target should supply disruptions deepen or conflict spread to key energy corridors.
The structure is a clear-channel breakout. Bulls remain in control.
Key levels: Support $98 , Target $120 → $150 Bias: Bullish above $94-96.
However, if the price drops below the apex near $94-95, there is a strong possibility of a downward retracement. In this case, the price may move back toward the lower boundary of the previous descending channel. This scenario would signal a loss of bullish momentum and could increase the risk of further downside unless buyers step in.
The price is in the process of completing a bullish flag / ascending wedge / triangle pattern around the $85–110 zone. If it continues toward a triangle pattern, the apex at around $94-95/bbl will play a key role. A hold above this level will keep the bull case intact.
Paradigm: Despite the US administration signaling de-escalation and pushing peace rhetoric, the oil market has not been affected much - bearish signs have been shrugged off. The war premium remains firmly priced in, and it seems oil supply disruptions are here to last longer.
Several analysts have flagged $150/bbl as a realistic target should supply disruptions deepen or conflict spread to key energy corridors.
The structure is a clear-channel breakout. Bulls remain in control.
Key levels: Support $98 , Target $120 → $150 Bias: Bullish above $94-96.
However, if the price drops below the apex near $94-95, there is a strong possibility of a downward retracement. In this case, the price may move back toward the lower boundary of the previous descending channel. This scenario would signal a loss of bullish momentum and could increase the risk of further downside unless buyers step in.
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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.