WTI Crude The Week Ahead 17 Feb 25 The WTI Crude (US Light Crude) price action sentiment appears bearish, supported by the longer-term prevailing downtrend.
The key trading level is at 7290, 50 Day Moving Average level. An oversold rally from the current levels and a bearish rejection from the 7290 level could target the downside support at 7100 followed by 6955 and 6870 levels over the longer timeframe.
Alternatively, a confirmed breakout above 7290 resistance and a daily close above that level would negate the bearish outlook opening the way for further rallies higher and a retest of 7360 resistance followed by 7455 levels.
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