WTI Crude Oil AnalysisHello traders,
After analyzing the current price action, I believe WTI remains bearish in the mid-to-long term. However, in the short term (next few sessions), we might see a temporary bullish correction, as the RSI is signaling oversold conditions.
Since late September 2023, WTI has been in a steady downtrend—clearly visible through the purple trendline—and recently hit its lowest level since early 2023. I'm watching the $66–$67 zone closely: if price reaches but fails to break above it, the downtrend is likely to resume. However, a clean breakout above that range could indicate a potential bullish reversal heading into next week.
This view is based on RSI and key support/resistance zones.
📉 Bearish bias mid/long term
📈 Short-term bounce likely
📍 Key zone to watch: $66–$67
Let me know your thoughts in the comments — are you bullish or bearish on WTI?
Not financial advice — just sharing my personal analysis.
