WTI Crude Oil Breaks Key Support, Extends Bearish Momentum Amid Global Demand Fears

Key Technical Highlights:
-
Support Break:
Price has broken below the long-term $65–$66 support zone, triggering a sharp selloff. This support had held for years, so breaking it is a significant bearish signal. -
Chart Pattern:
A triangle pattern was violated (red-dotted trendline), confirming bearish continuation and amplifying downside risk. -
Moving Averages:
-
50-day SMA < 200-day SMA → Bearish alignment
-
Confirms that the macro trend remains negative
-
-
Oversold Conditions:
-
Momentum indicators (likely RSI, Stochastics) are in oversold territory, suggesting potential for a short-term rebound or consolidation.
-
Fundamental Backdrop:
-
Demand Concerns:
Intensifying global trade tensions have raised fears of a recession, which could severely dent energy demand. -
Price Action:
Crude has now fallen to levels not seen in nearly four years, adding to panic-driven selling pressure.
Recent News
Gold regains momentum on rising safe-hav...
April 09, 2025
Market Insights
US30 Approaches Key Resistance Breakout...
July 23, 2025
Market Insights
AUD/USD awaits a breakdown for the next...
November 12, 2024
Market Insights
US30 (Dow Jones) Trading Within Ascendin...
July 29, 2025
Market Insights
Dow Jones Consolidates Near Support Brea...
February 25, 2025
Market Insights
DAX dips as earnings reports trigger a m...
October 30, 2024
Market Insights