WTI – Are Short Signals Still in Play?

The assumption that WTI would continue to show a downward trend has proven to be correct in recent days. But is the next target at $66.00 now within reach?

Fundamental Factors: Geopolitics and Market Sentiment

The recent decline in oil prices has been influenced in part by statements and actions from Donald Trump. As long as there is no concrete resolution to the geopolitical tensions between Ukraine and Russia, downward pressure on WTI is likely to persist.

Technical Analysis: Key Levels to Watch

Short Scenario:
- WTI remains under pressure, making it reasonable to look for short opportunities.
- Target levels: Initial support at $70.00, with a potential further decline toward $66.00.
- The $74.00 zone could act as a key resistance area, possibly triggering a reversal.
Long Scenario:
- A stronger buying interest may emerge around $66.00, where a potential stabilization could occur.
- This level could lead to short-term rebounds if buyers step in.

Conclusion

As long as geopolitical tensions remain unresolved, the pressure on oil prices is likely to continue. Traders should closely monitor the key levels mentioned and adjust their setups accordingly.

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