On the daily chart, price is trading around 61.45, sitting almost flat on the 14- and 50-day simple moving averages, while the 200-day SMA above price near the 64.00 region is gently rolling over – a sign that the longer-term trend has shifted from bullish to more range-bound with a slight downside bias. This 64.00 area therefore acts as important resistance, combining the 200-day average and a recent cluster of swing highs, with a secondary resistance band around 68.00 defined by earlier 2024 peaks. On the downside, the 58.00 region marks the lower end of the recent trading range and is the first key support, with 55.00 the next notable downside target if selling accelerates. The Stochastic Momentum Index is in negative territory around -32.9%, indicating bearish momentum, but recent lows in the SMI are not making substantially lower lows even as price drifts slightly down, hinting at a mild positive divergence and suggesting that downside momentum may be losing strength. Overall, the structure argues against chasing the market aggressively in either direction: swing traders looking to fade weakness could consider probing long positions closer to 58.00 with tight stops below 55.00, targeting a mean-reversion move back towards 64.00, while trend followers who prefer the downside should wait for a daily close below 58.00 before targeting 55.00 with protective stops above the 200-day SMA around 64.00 to ensure any short exposure is aligned with a confirmed breakdown rather than a range trade.

The 4-hour chart emphasises the short-term bearish tone: price around 60.38 is trading below the downward-sloping 200-period SMA (near 62.00) and the 14- and 50-period SMAs, which have crossed beneath the 200-period and are also trending lower – a classic bearish alignment that often acts as dynamic resistance on rallies. The recent sequence of lower highs from late September to early November reinforces this down-trend, with 62.00 as the first major resistance level (coinciding with the 200-period SMA and recent failed bounces) and 64.00 as the next resistance zone if a more forceful short-covering rally develops. On the downside, immediate support lies near 59.00, where price has found short-term demand on recent dips, with a deeper downside target around 57.00 if that level gives way. The Stochastic Momentum Index is currently oversold at about -54.7%, reflecting strong selling pressure but also warning that the market is susceptible to sharp counter-trend bounces; importantly, the latest price low around 60–59 is accompanied by an SMI reading that is less negative than on prior sell-offs, indicating a positive momentum divergence and suggesting that bears are starting to lose some intensity. For short-term traders, the bias remains to sell rallies into the 62.00 resistance zone with stops just above 64.00, aiming for a retest of 59.00 and potentially 57.00, while more tactical contrarian traders could look for a confirmed SMI turn up from oversold and a reclaim of 61.00 to attempt a bounce towards 62.00–64.00, protected by stops below 59.00 in case the prevailing down-trend quickly reasserts itself.

On the daily chart WTI is trading around the low-60s inside a multi-month range that has drifted lower from the spring spike; the 200-day SMA (green) sits above current price (≈64–65 area) and has acted as a rolling cap to rallies — that alignment (price < 200-day SMA, 50-day and 14-day averages clustered and flattening) signals the longer-term trend has lost bullish conviction and favours sideways-to-lower outcomes until price can clear the 200-day. Key resistance is the 200-day region near 64.5 (first band) — a clean daily close above there would be required to reassert a bullish longer-term case — with a secondary resistance/target up near the prior swing highs around 78 where sellers previously stepped in. On the downside, a near-term support band sits in the high-50s (≈57), which coincides with several recent intraday lows; a break below 57 exposes the next structural floor in the low-50s (53.5), a level that has historically attracted buying. The daily Stochastic Momentum Index is very low (near oversold), which can indicate short-term mean-reversion risk, but note the absence of a confirming higher-low in price (no clear bullish divergence yet) — if SMI turns up while price holds 57 it would favour opportunistic long trades; if price fails 57 on rising SMI, that would instead confirm distribution. Trading recommendation: neutral bias — avoid chasing longs until a decisive daily close back above 64.5; tactical longs may be taken on disciplined bounces off 57 with tight risk (stop below 55), while breakdown sellers can target the 53.5 area with a stop above 58–59.

The 4-hour chart shows a short-term attempt to stabilise after the pullback: price has curled up toward the short moving averages (14/50) and is probing the 200-period average which sits around the low-to-mid 60s — intraday supply is visible near 63 where recent candles stalled. Immediate support is the round-number 59 zone (recent intraday swing lows) and the stronger short-term support cluster around 57 which ties into the daily structure. The 4-hour Stochastic Momentum Index is in mid-range (around the 50s) and has been producing sharper swings — watch for classical momentum divergence: if price makes a higher low while SMI prints a higher low, that confirms building short-term momentum and supports a push to 63/64.5; conversely, if price makes a marginal new high but SMI fails to confirm, that would warn of a fade and invite short intraday setups. Trading recommendation: for traders, favour intraday longs on a clean 4-hour close above 63 with a target to 64.5 and a stop below 61; alternatively, use measured bounces into 59 with tight stops (stop below 58) for smaller, lower-risk longs. If the 4-hour closes decisively under 57 on increased momentum, flip to a bearish short-term stance and target the low-50s.

On the daily timeframe WTI is sitting below the long-run 200-day SMA (the green line) and trading around 60.5 which places it inside a multi-month downtrend that began after the 2022 peak; the 200-day SMA near the mid-60s is acting as the dominant dynamic resistance while the 50-day/14-day SMAs are bunched slightly above/beside price and failing to lift price decisively — a classic sign the dominant trend remains lower. The Stochastic Momentum Index on the daily is weak/negative (reading around the mid-negative tens), signalling momentum is biased to the downside and that rallies are likely to be met with selling unless momentum structure improves. Key technical levels: a clear break and sustained close above 64.00 would be the first sign of an attempted corrective uptrend toward 68.00 (which aligns with the 200-day resistance band); failure there would keep the path of least resistance lower toward the nearer support at 56.00 and, if lost, the structural support cluster around 52.00. Trading plan: prefer defensive positioning — shorters can look for failed rallies into 64.00–68.00 with stops a few percent above 68.00, while any long exposure should be sized small and only taken on a clean reclaim of 64.00 with a stop under the recent swing low (below 56.00) because the daily momentum and SMA alignment currently favour lower prices.

The 4-hour chart shows price consolidating near 60.5 with the short SMAs (14/50 on the 4-hour) flattened and the 200-period 4-hour SMA sitting above price — a sign of temporary equilibrium following the recent downswing rather than an immediate trend reversal. The 4-hour Stochastic Momentum Index is near neutral (around zero), indicating the short-term momentum reset has removed the immediate oversold pressure but has not yet produced a convincing bullish impulse; that lack of divergent bullish momentum means confirmation is required before committing to directional trades. Practical setups: intraday traders can favour range-responsive trades — look for a sustained move above 62.00 to open small longs targeting 64.00 with a tight stop below 59.00, or on a decisive break below 59.00/56.00 consider short exposure with stops above the breakdown candle; keep position sizing conservative until the 4-hour Stochastic shows a clear directional bias and the short SMAs begin to slope in agreement with the move.

On the daily timeframe WTI shows a clear down/sideways regime since the big 2022–2023 peaks: price is trading around 61–62 and remains below the long-term 200-day simple moving average (the green line), which now acts as a ceiling and therefore a structural resistance level (my first resistance near 64 reflects that 200-day MA/short-term supply zone). The 14- and 50-day SMAs are clustered below the 200-day and hugging price, signalling a lack of sustained upside momentum rather than a clean trending advance. The Stochastic Momentum Index has been oscillating in a lower band and recently failed to register sustained higher highs while price made only brief rallies — a technical divergence that flags momentum exhaustion and increases the odds of more sideways to lower price action. Key support sits at the recent swing low around 56.0 (tested several times on the charts) with a secondary structural support around 52.0 from prior consolidation; a decisive break below 56 would open a faster descent toward 52. Trade plan: the preferred tactical approach is defensive — favour range-trading or short bias on failures into 200-day MA (64) with a target at 56 and a stop above 64. For swing longs, wait for a clear reclaim and hold above 64 with follow-through above 72 (which would shift the bias back toward bullish). Position sizing should assume higher volatility around the 56–64 band; place protective stops below 52 for multi-day longs and just below 56 for shorter swing entries.

The 4-hour structure is weaker: price has rolled off local highs and is trading under the 200-period moving average for the 4-hour, while the faster 14/50 averages have flattened and crossed lower at times — a short-term bearish alignment that suggests rallies are likely to be capped. The Stochastic Momentum Index on the 4-hour shows more frequent swings into overbought then rapid declines and currently sits in a neutral-to-weak band, with recent price attempts failing to generate stronger SMI readings (momentum failing to confirm rallies). That short-term momentum divergence between price and SMI argues for a higher probability of pullbacks or sideways chop rather than sustained breakouts. Tactically, look to sell strength into 63.0–64.0 with a stop above 66.5 for a first target at 59.0 and a secondary target at the daily support 56.0; alternatively, mean-reversion scalps can be taken between 59–63 with tight stops (example stop 0.8–1.5% beyond the chosen edge). If price decisively closes and holds back above 66.5 on strong momentum, reassess and consider a short-cover / turn to cautious buying with a stop under 63.0.

On the daily timeframe WTI is trading around the low-60s (61) and is sitting marginally below the 200-day SMA (green), which now acts as the primary structural resistance and a clear pivot for the longer-term bias; until price reclaims and holds above that 200-day line a more bullish case is difficult to sustain. The shorter SMAs (14 and 50) are compressed around price and have flattened or slightly rolled over, signalling loss of upward impulse after the earlier rallies — this flattening warns that trend internals have weakened. The Stochastic Momentum Index is in negative/low territory and has failed to make sustained highs on recent rallies (momentum has been softer on bounces), which is a classic momentum divergence pattern that supports a neutral-to-bearish tilt: price attempts to rally but the SMI does not confirm with higher peaks, increasing the probability of further choppy or downside action. Tactical targets: a decisive daily close above 64.00 would reopen a rally towards 68.00 (invalidates the near-term bearish case); downside targets are 58.00 for an initial pullback and 54.00 as the next meaningful support shelf where buyers previously stepped in. Recommended risk management: for new longs wait for a clean reclaim and daily close above the 200-day SMA; for short or mean-reversion trades use a protective stop above 64.50 and scale out if price breaks and holds below 58.00.

The 4-hour chart shows more immediate downside pressure: price is below the short 14 and 50 SMAs which are turning down and the 200-period SMA sits just above as near resistance (around 63–63.5), so intraday momentum is clearly biased lower. The Stochastic Momentum Index on the 4-hour is printing in low/negative territory and intraday rallies have been met with lower SMI highs — a divergence that signals exhaustion of short-term buying and a higher probability of further corrective legs rather than sustained breakouts. Immediate resistance is therefore the short-term moving average cluster near 63.50, with a tougher resistance at the daily 200-SMA area around 64.00; supports to watch are 59.00 (recent intraday lows) and a deeper pivot near 56.00 which would constitute a meaningful corrective extension. Trading plan: favour short or mean-reversion setups on rallies into 63.0–63.5 with tight stops above 64.00 (stop 64.25) and initial profit targets around 59.00; if initiating a directional long intra-day, keep position size small and place a stop below 59.00 with an objective to re-assess at 63.5–64.0 if momentum and the 14/50 SMAs turn back up.