🔥 CL/USDT (Crude Oil) Market Update
Crude Oil is attempting to recover on the 4H chart after finding support near the recent low at $67.07. Despite the short-term rebound, the broader trend remains bearish as price is still trading below the Supertrend and all major moving averages.
📍 Current Price: $68.70
🟢 Support: $67.10 – $66.40
🟢 Major Support: $65.50
🔴 Resistance: $69.50
🔴 Major Resistance: $72.60
🎯 Recovery Targets: $69.50 → $72.60
A confirmed 4H close above $69.50 would be the first signal that buyers are regaining momentum and could open the way toward $72.60. However, if price loses the $67.10 support, the bearish trend may continue toward the $65.50 area.
RSI has recovered from near-oversold levels, indicating improving buying interest, while MACD is beginning to stabilize but remains below the zero line. As long as price stays below the Supertrend and the 99 EMA, the overall trend remains cautious.
⚠️ This post is for educational purposes only and is not financial advice.
#CL #CrudeOil #Oil #CLUSDT #TechnicalAnalysis #Trading #BinanceSquare #PriceAction #RiskManagement
Crude Oil is attempting to recover on the 4H chart after finding support near the recent low at $67.07. Despite the short-term rebound, the broader trend remains bearish as price is still trading below the Supertrend and all major moving averages.
📍 Current Price: $68.70
🟢 Support: $67.10 – $66.40
🟢 Major Support: $65.50
🔴 Resistance: $69.50
🔴 Major Resistance: $72.60
🎯 Recovery Targets: $69.50 → $72.60
A confirmed 4H close above $69.50 would be the first signal that buyers are regaining momentum and could open the way toward $72.60. However, if price loses the $67.10 support, the bearish trend may continue toward the $65.50 area.
RSI has recovered from near-oversold levels, indicating improving buying interest, while MACD is beginning to stabilize but remains below the zero line. As long as price stays below the Supertrend and the 99 EMA, the overall trend remains cautious.
⚠️ This post is for educational purposes only and is not financial advice.
#CL #CrudeOil #Oil #CLUSDT #TechnicalAnalysis #Trading #BinanceSquare #PriceAction #RiskManagement