On the 4-hour timeframe of WTI crude oil, the market structure is clearly bearish, characterized by lower highs and lower lows, indicating strong selling pressure. The recent sharp decline has pushed price into a key demand zone around 55.15–55.95, where we see an initial reaction from buyers; however, this move looks more like a technical pullback rather than a trend reversal.
The highlighted area around 57.5–57.8 acts as a major supply and resistance zone, where sellers are expected to step back in and absorb buy-side liquidity. As long as price remains below this zone, the dominant scenario is a continuation of the bearish move with a high probability of another breakdown toward lower levels. Only a sustained break and acceptance above the supply zone would signal weakness in the bearish trend; otherwise, any upward movement should be considered a selling opportunity in line with the overall trend.
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