(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 Slips Lower—Why Fresh Gains Could Be Limited

Article background

Aayush Jindal

Key Highlights

  • WTI Crude Oil prices started a fresh decline below $58.50.
  • A key bearish trend line is forming with resistance at $57.00 on the 4-hour chart.
  • Gold started a fresh increase above $4,300 and $4,320.
  • EUR/USD is consolidating gains above the 1.1680 support zone.

WTI Crude Oil Price Technical Analysis

WTI Crude Oil price gained bearish momentum below $60.00 against the US Dollar. It declined below $58.00 and $56.50 to enter a bearish zone.

Looking at the 4-hour chart of XTI/USD, the price even spiked below $55.00. A low was formed at $54.98 on TitanFX, and the price is now consolidating losses. There was a minor recovery above the $55.50 level.

The price climbed above the 23.6% Fib retracement level of the downward move from the $60.53 swing high to the $54.98 low. However, the price remained well below the 100 simple moving average (red, 4-hour) and the 200 simple moving average (green, 4-hour).

On the upside, immediate resistance is near the $56.80 level. The first key hurdle for the bulls could be $57.00. There is also a bearish trend line forming with resistance at $57.00. The main hurdle sits at $58.50.

A close above $58.50 might send Oil prices toward $59.20. Any more gains might call for a test of $60.00 in the near term. On the downside, the first major support sits near the $55.40 zone.

The next support could be $55.00. A daily close below $55.00 could open the doors for a larger decline. In the stated case, the bears might aim for a drop toward $53.20.

Looking at Gold, the bulls remained in action, and the price started a fresh increase above the $4,320 resistance.

Economic Releases to Watch Today

  • US Consumer Price Index for Nov 2025 (YoY) – Forecast +3%, versus +3% previous.
  • US Initial Jobless Claims - Forecast 225K, versus 236K previous.
Excellent
Trustpilot
Open a Live accountOpen a Demo account
Loading