empty
14.05.2025 05:55 PM
WTI - West Texas Intermediate. Analysis and Forecast

This image is no longer relevant

Prices for U.S. crude oil West Texas Intermediate (WTI) are consolidating near a one-month high, pausing a four-day winning streak, although the intraday pullback lacks bearish conviction.

WTI prices are consolidating near monthly highs, breaking a four-day streak of gains. However, the intraday decline lacks the strength to be considered convincingly bearish. Moreover, the Relative Strength Index (RSI) on the daily chart has just begun to build positive momentum, reinforcing the bullish outlook.

The overnight breakout and close above the 200-period Simple Moving Average (SMA) on the 4-hour chart is viewed as a key bullish trigger. The emergence of dip-buyers near the breakout point—and even at the psychological level of $62.00—warrants caution for the bears.

Nevertheless, continued selling toward $61.30 and on to the $61.00 mark would open the door to deeper losses. The next support lies around $60.40, and a break below that would bring prices down to test the key psychological level of $60.00. A break below this pivot point would signal that the upward trend, which has lasted for more than a week, has run out of steam.

This image is no longer relevant

On the other hand, bulls need to clear the $63.50 level, which marks the two-week high set on Tuesday. A breakout above this level would likely accelerate bullish momentum toward the round figure of $64.00, with a potential test of $64.65 ahead of the key $65.00 level. A decisive break above that would pave the way for further gains.

This image is no longer relevant

Irina Yanina,
Analytical expert of InstaForex
© 2007-2025
Select timeframe
5
min
15
min
30
min
1
hour
4
hours
1
day
1
week
Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST

Recommended Stories

Technical Analysis of Daily Price Movement of GBP/CAD Cross Currency Pairs, Tuesday June 03, 2025

From what is seen on the 4-hour chart of the GBP/CAD cross currency pair, there appears to be a Divergence between the GBP/CAD price movement and the Stochastic Oscillator indicator

Arief Makmur 08:23 2025-06-03 UTC+2

Technical Analysis of Intraday Price Movement of EUR/JPY Cross Currency Pairs, Tuesday June 03, 2025.

If we look at the 4-hour chart of the EUR/JPY cross currency pair which moving below the WMA (21), which also has a decreasing slope and the appearance of Convergence

Arief Makmur 08:23 2025-06-03 UTC+2

Forecast for EUR/USD on June 3, 2025

Risk appetite on Monday was widespread: the S&P 500 rose by 0.41%, oil by 1.71%, gold by 2.37%, the dollar index dropped by 0.63%, and the yield on 5-year

Laurie Bailey 05:17 2025-06-03 UTC+2

Forecast for GBP/USD on June 3, 2025

Amid strengthening risk market trends and a 0.63% decline in the US dollar, the British pound rose by 93 pips. The price is now seriously poised to target the 1.3635

Laurie Bailey 05:17 2025-06-03 UTC+2

Forecast for USD/JPY on June 3, 2025

On Monday, the yen strongly broke through the MACD line support and the target level at 143.45, moving 134 pips. The Marlin oscillator has settled into the bearish territory

Laurie Bailey 05:17 2025-06-03 UTC+2

XAG/USD. Analysis and Forecast

Today, at the start of the new week, silver is rising, recovering above the psychological $33.00 level and offsetting part of Friday's losses. However, the intraday rally lacks strong momentum

Irina Yanina 18:40 2025-06-02 UTC+2

Trading Signals for EUR/USD for June 2-5, 2025: sell below 1.1474 (21 SMA - 6/8 Murray)

EUR/USD is trading around 1.1437, below the Murray 6/8 level and within the uptrend channel formed on May 9. The instrument has an area where buyers have found it easier

Dimitrios Zappas 18:38 2025-06-02 UTC+2

Trading Signals for GOLD (XAU/USD) for June 2-5, 2025: sell below $3,3802 (21 SMA - 6/8 Murray)

Gold left a gap at 3,427 in early May, and we believe it could close this gap in the coming days. Therefore, any pullback in the coming days will

Dimitrios Zappas 18:36 2025-06-02 UTC+2

Forecast for GBP/USD on June 2, 2025

On the hourly chart, the GBP/USD pair traded between the levels of 1.3425 and 1.3520 in a horizontal channel on Friday. Thus, there were no trading or reversal signals

Samir Klishi 17:42 2025-06-02 UTC+2

Forecast for EUR/USD on June 2, 2025

On Friday, the EUR/USD pair dropped to the 50.0% Fibonacci correction level at 1.1320, rebounded, and turned in favor of the euro, subsequently rising toward the resistance zone of 1.1374–1.1380

Samir Klishi 12:01 2025-06-02 UTC+2
Can't speak right now?
Ask your question in the chat.
Widget callback
 

Dear visitor,

Your IP address shows that you are currently located in the USA. If you are a resident of the United States, you are prohibited from using the services of InstaFintech Group including online trading, online transfers, deposit/withdrawal of funds, etc.

If you think you are seeing this message by mistake and your location is not the US, kindly proceed to the website. Otherwise, you must leave the website in order to comply with government restrictions.

Why does your IP address show your location as the USA?

  • - you are using a VPN provided by a hosting company based in the United States;
  • - your IP does not have proper WHOIS records;
  • - an error occurred in the WHOIS geolocation database.

Please confirm whether you are a US resident or not by clicking the relevant button below. If you choose the wrong option, being a US resident, you will not be able to open an account with InstaForex anyway.

We are sorry for any inconvenience caused by this message.