Crude Oil (WTI) OIL technical analysis

OIL trades at $94.138, up 0.86% in 24 hours, with momentum decidedly bullish. RSI14 sits at 68 on the 4-hour and 72 on the daily, above the SMA20 of $92.436 (4h) and $86.5725 (daily), confirming a strong uptrend.

Price is currently beneath the 4-hour support zone of 94.5875-94.8725, which has one touch, and is testing the daily support at 93.4274-93.7126, hit twice. This battle zone sits above deeper daily support at 90.9074-91.1926 (one touch) and the rising 4-hour trendline near $90.7176, with four touches. Resistance overhead sits at 96.5-97 (two touches) and 98.2474-98.5326 (one touch).

For bulls, a reclaim of the 94.5875-94.8725 zone would target the 96.5 resistance. Bears need a sustained break below 93.4274-93.7126, opening a move toward 91.48-92.29 or the 90.9074 support, with further risk to the four-touch trendline.