(function() { var didInit = false; function initMunchkin() { if(didInit === false) { didInit = true; Munchkin.init('105-GAR-921'); } } var s = document.createElement('script'); s.type = 'text/javascript'; s.defer = true; s.src = '//munchkin.marketo.net/munchkin.js'; s.onreadystatechange = function() { if (this.readyState == 'complete' || this.readyState == 'loaded') { initMunchkin(); } }; s.onload = initMunchkin; document.getElementsByTagName('head')[0].appendChild(s); })();(function(h,o,t,j,a,r){ h.hj=h.hj||function(){(h.hj.q=h.hj.q||[]).push(arguments)}; h._hjSettings={hjid:1422437,hjsv:6}; a=o.getElementsByTagName('head')[0]; r=o.createElement('script');r.defer=1; r.src=t+h._hjSettings.hjid+j+h._hjSettings.hjsv; a.appendChild(r); })(window,document,'https://static.hotjar.com/c/hotjar-','.js?sv=');

WTI Crude Oil at Make-or-Break Zone, Bears Ready to Strike?

Article background

Aayush Jindal

Key Highlights

  • WTI Crude Oil failed to surpass $105 and trimmed most gains.
  • A key bearish trend line is forming with resistance at $96.40 on the 4-hour chart of XTI/USD.
  • Gold is facing a major hurdle near $4,950.
  • EUR/USD seems to be consolidating gains above the 1.1740 support.

WTI Crude Oil Price Technical Analysis

WTI Crude Oil prices faced resistance near $105 against the US Dollar. The price started a fresh decline below $100 and $95.

Looking at the 4-hour chart of XTI/USD, the price settled below $95, the 100 simple moving average (red, 4-hour), and the 200 simple moving average (green, 4-hour). However, the bulls are active near the key support at $88.

On the upside, immediate resistance is near the $95.00 level. The first key hurdle for the bulls could be $96.00. There is also a key bearish trend line forming with resistance at $96.40.

A close above $96.40 might send Oil prices toward $100. Any more gains might call for a test of $105 in the near term. On the downside, the first major support sits near the $88 zone. The next support could be $85.50, below which the price could dive and test $83.20.

A daily close below $83.20 could open the doors for a larger decline. In the stated case, the bears might aim for a drop toward $80.00.

Looking at Gold, there was a decent increase, but the bulls need to push the price above $4,950 for upside continuation.

Economic Releases to Watch Today

  • US Initial Jobless Claims - Forecast 215K, versus 219K previous.
  • US Industrial Production for March 2026 (MoM) – Forecast 0.1%, versus 0.2% previous.
Excellent
Trustpilot
Open a Live accountOpen a Demo account
Loading