WTI crude eyes $65–$67 after triangle consolidation, but fragile growth in the U.S. and China could cap further upside.
WTI Oil Price Forecast
WTI crude oil is testing the waters near a critical pivot point at $63.18, hovering just below it after a tight consolidation within a symmetrical triangle. The price is currently sitting around $62.50, with immediate resistance at $63.18 and next resistance at $65.28.
On the downside, support rests at $60.81, followed by $59.06. The 50 EMA at $61.45 is sloping upward and now acts as short-term support, while the 200 EMA at $63.67 caps the upside, keeping the trend cautiously neutral.
A clean break above $63.18 could shift momentum toward $67, but failure here may drag the price back toward the $60 area. Crude’s next move hinges on volume and follow-through beyond that resistance line.
