Daily Chart: Longer-Term Bias: Neutral

4-Hour Chart: Short-Term Outlook: Neutral

Friday 17th April

The daily chart for WTI crude oil carries a neutral longer-term outlook, although the broader structure still leans constructive while price holds above the key medium- and long-term moving averages. Crude is currently trading at 92.95, which places it below the 14-day moving average at 100.48, but still clearly above the 50-day moving average at 85.06 and the 200-day moving average at 67.73. This is an important configuration because it shows the market is undergoing a corrective pullback within a still-intact primary uptrend rather than a full trend reversal. The 14-day moving average now acts as immediate overhead resistance and reflects the loss of short-term momentum after the recent spike toward the 115.00–118.00 region. The first key upside barrier is therefore 100.48, with a secondary resistance near 106.00, where prior rebound attempts and recent swing congestion suggest sellers may re-emerge. On the downside, the most important near-term support is 85.06, the 50-day moving average, which often serves as the main trend support during strong trending phases; beneath that, 80.00 becomes the next major support zone, representing prior breakout structure and a psychological round-number level. The SMI at -59.48 / -50.25 has fallen deeply into negative territory, confirming that momentum has weakened materially. The key technical message here is that price has corrected sharply from the highs while the SMI has already moved into an oversold condition, which suggests downside momentum is stretched, but not yet clearly reversing. That means the chart is not outright bearish on a longer-term basis, yet the loss of momentum argues against chasing strength until price either reclaims 100.48 or successfully bases near 85.06. Traders with a bullish medium-term bias may prefer to wait for evidence of stabilization around 85.06 or a breakout back above 100.48, targeting 106.00, while a sensible protective stop for a bullish stance would sit below 85.00, as a decisive break there would increase the risk of a deeper retracement toward 80.00.

The 4-hour chart shows a neutral short-term outlook, with crude consolidating after a sharp decline and now trapped between closely packed moving averages. Price is trading near 93.05, which places it just above the 14-period moving average at 92.36, but still below the 50-period moving average at 98.96 and slightly below the 200-period moving average at 94.60. That arrangement signals a market in transition rather than one with a clear directional impulse: the short-term selling pressure has eased, but buyers have not yet regained enough control to restore a bullish continuation pattern. The immediate resistance zone comes in at 94.60, the 200-period moving average, followed by 98.96, the 50-period moving average, and this stacked overhead resistance is important because it creates a ceiling that must be cleared before the short-term trend can improve meaningfully. On the downside, 92.36 is first support at the fast moving average, followed by the more important 90.00 region, which has acted as a recent reaction base and a psychological level. The SMI at 4.45 / -6.20 is hovering around the zero line after rebounding from oversold territory, which tells us momentum has stabilized but remains indecisive. That lack of strong momentum confirmation fits with the sideways price action and supports a neutral stance rather than an immediate bullish or bearish call. There is also no strong bullish divergence visible at present, because while momentum has recovered, price has only managed a modest stabilization rather than a higher-high sequence. From a trading perspective, the cleaner setup is to respect the range: a sustained break above 94.60 would improve the short-term tone and expose 98.96, while a rejection below 92.36 would shift focus back toward 90.00. For traders leaning long, a stop below 90.00 is appropriate, while short-biased traders would want a stop above 98.96, since a breakout through that level would invalidate the near-term neutral-to-cautious view and suggest a renewed push higher.

                                       Daily Chart: Longer-Term Bias: Neutral

4-Hour Chart: Short-Term Outlook: Neutral

Thursday 16th April

On the daily chart, WTI crude remains in a corrective phase after its explosive March rally, with price at 90.73 trading below the 14-day moving average at 101.00 while still holding above the 50-day moving average at 84.42 and comfortably above the 200-day moving average at 67.60. That structure is important because it shows the short-term trend has clearly turned lower, but the broader medium-term uptrend has not yet fully broken down. The 14-day average is now acting as a strong dynamic resistance line, and until price can reclaim it, rallies are more likely to be corrective than the start of a fresh impulsive leg higher. The recent rejection from the 115 area and the continued drift lower into the low 90s suggest the market is unwinding an overextended advance, and the Stochastic Momentum Index at -57.15/-42.82 confirms downside momentum remains dominant, with the oscillator now back in oversold territory. There is no bullish divergence yet on the daily timeframe because price weakness is still broadly aligned with falling momentum, which supports the neutral-to-bearish classification. Immediate support sits at 90.00, a key round-number level close to current price, and below that the 50-day moving average at 84.42 becomes the more important structural floor. If 90.00 breaks decisively, that would likely accelerate the correction toward 84.42, while a daily close back above 101.00 would materially improve the picture and reopen 105.00 as the next resistance target. For now, the better read is that WTI is correcting within a still-intact broader uptrend, and traders should remain cautious on the long side until price shows evidence of stabilising above support or reclaiming the 14-day average. A stop loss for any countertrend long idea should sit below 84.42, while bearish positioning can use a stop above 101.00.

On the 4-hour chart, WTI is firmly bearish in the short term, with price at 90.70 trading below the 14-period moving average at 93.76, below the 50-period moving average at 101.35, and below the 200-period moving average at 93.79, showing that sellers have regained control across the full intraday trend structure. The 200-period average near 93.79 is especially significant because it had previously acted as a trend floor during the rally, and once lost it becomes a resistance zone that sellers often defend. The Stochastic Momentum Index at -58.73/-58.72 is deeply oversold, which confirms aggressive downside pressure, but in a strong downswing that should be read more as momentum persistence than an automatic reversal signal. There is also no clear bullish divergence yet, as price continues to make weak closes while the oscillator remains depressed, so the bearish bias remains intact. Immediate resistance is clustered at 93.76–93.79, where the 14-period and 200-period averages converge, followed by 101.35 at the 50-period average, which is the higher and more important recovery barrier. On the downside, 90.00 is first support and the most immediate level to watch, while a clean break below it would likely expose the 84.00 area as the next logical downside target based on the broader correction and proximity to the daily 50-day support. The preferred strategy is to sell failed rebounds into 93.76–93.79 or remain defensive while price stays below that band, with a stop loss above 101.35 for bearish trades. Only a sustained recovery back above 93.79 would start to weaken the immediate bearish case, and a move above 101.35 would be needed to shift the short-term outlook back toward neutral.

Wednesday 15th April

On the daily chart, WTI crude has shifted from a strong breakout phase into a corrective structure, with price at 90.92 now trading below the 14-day moving average at 101.27 while still holding above the 50-day moving average at 83.89 and well above the 200-day moving average at 67.49. That positioning matters because the 14-day average reflects short-term trend control and its loss shows near-term momentum has clearly weakened, while the 50-day and 200-day averages indicate the broader medium-term uptrend has not yet fully broken down. The recent rejection from the 115–118 region and the sharp unwind into the low 90s suggest exhaustion after a parabolic rise, which is often followed by either a deeper retracement or a lengthy consolidation. The Stochastic Momentum Index has dropped to -44.65/-28.90 and is now pressing into oversold territory, confirming downside momentum is dominant, but it also warns that the market is becoming stretched on the downside. Importantly, price has made a materially lower swing from the recent highs while momentum has rolled over aggressively, which supports the current bearish corrective bias rather than a fresh bullish continuation. From a trading perspective, 101.27 is now the first major resistance because a recovery through that level would signal that short-term trend control is being regained, with 105.00 the next upside objective and a more meaningful reclaim zone. On the downside, 88.00 is the first key support as it lines up with the recent reaction zone and psychological round-number support, while a failure there would expose 83.89, where the 50-day moving average should act as stronger structural support. The directional bias remains cautious to the downside while price stays below 101.27, with rallies likely to be sold unless the market can close back above that level; for bearish positioning, a stop loss above 101.27 is appropriate, while any countertrend long setup should only be considered on evidence of stabilisation around 88.00 with a tight stop beneath that area.

On the 4-hour chart, WTI is clearly in a short-term bearish phase, with price at 90.92 trading below the 14-period moving average at 98.16, below the 50-period moving average at 103.25, and now also below the 200-period moving average at 92.99, which is a significant deterioration in trend structure because the loss of all three moving averages shows sellers have taken control across short, medium, and broader intraday time horizons. The 200-period average in particular had been an important trend support during the rally, so slipping beneath it turns that zone into first resistance and increases the probability that rebounds will struggle. The Stochastic Momentum Index at -79.26/-76.27 is deeply oversold, which confirms aggressive downside pressure, but it also means the market is vulnerable to sharp short-covering bounces. Even so, oversold does not automatically mean bullish; in strong downswings it often reflects trend persistence rather than immediate reversal. The key message here is that momentum is aligned with falling price, so there is no bullish divergence yet to support a durable reversal call. Initial resistance sits at 92.99, the 200-period average, followed by 98.16, the 14-period average and recent breakdown zone. Unless price can reclaim at least 92.99 and then build above 98.16, rallies should still be treated as corrective. On the downside, 90.00 is immediate support as a psychological level sitting just under spot, and a clean break below it would likely open the way to 88.00, which is the next notable reaction area from recent price action. Traders favouring the bearish trend can look for failed rebounds into 92.99–98.16 as potential sell zones, with a stop loss above 98.16, while a genuine reversal signal would require a base above 90.00 combined with an improving SMI and a recovery back through the 200-period average.

Tuesday 14th April

On the daily chart, WTI crude still carries a bullish longer-term bias despite the latest pullback, because price at 96.93 remains comfortably above the rising 50-day moving average at 83.44 and well above the 200-day moving average at 67.39, which confirms that the broader trend regime has shifted higher after the powerful breakout from the long base in the 58.00–67.00 zone. The immediate issue is that price is now trading below the 14-day moving average at 101.72, showing that short-term momentum has cooled and that the market is in a corrective phase within a broader uptrend. That 101.72 level is now the first key resistance, because reclaiming it would signal that buyers are regaining near-term control and would reopen the path toward 105.00 and then the major swing zone near 110.00, which is the next meaningful upside target based on the recent April highs. The SMI has rolled over sharply and sits in negative territory, with the fast line below the signal line, indicating that upside momentum has weakened faster than price itself; this creates a mild bearish momentum divergence in the sense that price recently held relatively elevated levels while the oscillator deteriorated materially, warning that the trend is losing force and needs consolidation before another sustained leg higher. Even so, the fact that price continues to hold far above the 50-day average means the correction is not yet structural damage but rather a retracement inside an established uptrend. The first support zone is around 93.00, which has acted as an area of recent price congestion and pullback demand, while a deeper retracement toward 83.44 would test the 50-day average and represent the more important trend support. Traders should remain constructive while price holds above 93.00 on a closing basis, and especially above 83.44, with bullish re-entry favoured on strength back through 101.72. For risk control, a stop loss for swing-long positions is best placed below 83.44, because a decisive break beneath the 50-day average would suggest the rally phase is transitioning into a broader reversal rather than a normal pullback.

On the 4-hour chart, WTI looks neutral to bearish in the short term as price at 96.82 is trading below both the 14-period moving average at 100.10 and the 50-period moving average at 104.13, while still holding above the 200-period moving average at 92.14. This moving-average structure is important because it shows that short-term trend control has shifted to sellers, but the broader intermediate trend has not fully broken down yet. The recent decline from the 115.00 area has produced lower highs and weaker recovery attempts, which indicates that rallies are being sold rather than expanded, and that keeps pressure on the market unless bulls can reclaim 100.10 first and then 104.13. Those two levels form the main resistance band; a break back above them would neutralise the current downside sequence and expose a recovery toward 108.00. The SMI is also weak, with the fast line at -22.22 and still below the signal line near -1.74, confirming negative momentum and showing that sellers remain in control of the immediate tape. There is no bullish divergence of note yet, because both price and momentum have weakened together, which makes the current correction technically credible rather than exhausted. The first key support is the 200-period moving average at 92.14, a highly relevant level because longer intraday trends often stabilise there during healthy corrections. If that level breaks, the next downside target is around 88.00, where prior consolidation and reaction lows suggest demand may reappear. For traders, the cleaner setup is to stay cautious or mildly bearish below 100.10, with rallies into 100.10–104.13 likely to meet supply unless momentum improves materially. A stop loss for short-biased positioning should sit above 104.13, because a recovery through that level would invalidate the near-term bearish structure and indicate that the pullback has likely run its course.

Monday 13th April

The daily chart is firmly bullish, with WTI crude closing at 104.875 after a powerful breakout from the long base that had capped price through much of the prior year. Price is trading decisively above the 14-day moving average at 101.660, the 50-day moving average at 82.881, and the 200-day moving average at 67.280, and that moving average alignment is strongly constructive because it shows short-, medium-, and long-term trend participation all pointing in the same direction. The 14-day average is now the first layer of dynamic support, while the large gap between spot and the 50-day and 200-day averages highlights how strong the impulse leg has been. From a price-action perspective, the surge through the 95.00–100.00 zone confirmed a major upside expansion, and the market is now consolidating just under the recent reaction highs in the 106.00–115.00 region. The stochastic momentum indicator has cooled sharply to around -1.626 versus 6.734 even though price remains elevated near the highs, which shows upside momentum has eased materially after the vertical rally. That is not yet a bearish reversal signal on the daily timeframe, but it does reflect momentum divergence or at least momentum non-confirmation, meaning the uptrend remains intact while the pace of the advance is slowing and the market is more vulnerable to consolidation or a pullback before the next leg higher. A clean break above 106.00 would strengthen continuation odds toward 110.00 and then 115.00, while failure to hold above the 14-day average near 101.60 would expose a deeper retracement toward 95.00, which is an important breakout retest zone, and below that the next major support sits closer to 90.00. The preferred strategy remains buying dips rather than chasing spikes, with a bullish stop loss best placed below 95.00 if positioning for continuation, because a break back under that level would suggest the breakout is losing structural control.

The 4-hour chart is neutral to bullish, reflecting a strong underlying uptrend that is currently consolidating rather than extending cleanly. WTI is trading at 104.920, just above the 50-period moving average at 104.507 and well above the 14-period moving average at 98.863 and the 200-period moving average at 91.109, which confirms that the broader short-term structure remains constructive even though price has become choppy after the recent surge. The 50-period average is now the immediate pivot, so holding above it keeps the near-term recovery bias alive, while the 200-period average marks the deeper trend floor and shows that recent volatility has occurred within a still-rising structure. Price has repeatedly tested the 106.00 area without yet producing a decisive breakout, making that the key short-term ceiling; above there, the next upside target remains the 112.00–115.00 region near the prior spike highs. The stochastic momentum indicator has turned higher to 5.462 from -9.347 after dipping into negative territory, which shows momentum is recovering from a short-term reset. That supports the case for another push higher, but because price is still beneath the recent swing high while momentum has already rebounded sharply, the signal is more consistent with range recovery than a fresh impulsive breakout just yet. In practical terms, a sustained move above 106.00 would likely trigger another upside extension, whereas rejection from that zone would leave the market vulnerable to rotation back toward 104.50 and then 98.85, the latter aligning closely with the 14-period moving average and recent pullback support. For traders, the cleaner setup is to stay tactically bullish above 104.50 while targeting a breakout through 106.00, with a stop loss below 98.85; a loss of that level would shift the short-term structure from consolidation back into correction.

Friday 10th April

The daily chart remains bullish on a longer-term basis because price at 100.8078 is holding well above both the 50-day SMA at 82.1561 and the 200-day SMA at 67.1119, and that moving-average alignment is a classic sign that the broader trend is still upward even after a sharp vertical rally. The 14-day SMA is sitting almost exactly at current price, which tells us the market has shifted from impulsive breakout mode into short-term consolidation after the surge through the 90.00–100.00 zone. That pause is important because strong trends often need to digest gains before extending. The first major resistance is 105.00, which has repeatedly capped price on recent spikes and sits near the upper boundary of the current breakout cluster; a clean daily close above that level would confirm continuation and open the way toward 118.00, which is the next major historical supply zone and recent swing-high area. On the downside, 95.00 is the first meaningful support because it marks the breakout retest region and the lower end of the current consolidation band, while 82.15 is much more important as it coincides with the rising 50-day SMA and represents the level bulls would need to defend to keep the medium-term trend structurally intact. The Stochastic Momentum Index is slightly negative at -3.01%, which shows the rally has lost near-term momentum, but importantly price itself remains elevated rather than breaking down, so the current picture is more consistent with bullish consolidation than outright reversal. There is also a mild momentum divergence developing in the sense that price has remained near the highs while the stochastic has rolled over, which warns that upside may be slower and more volatile from here. Trading-wise, the preferred bias remains to buy controlled pullbacks while price holds above 95.00, targeting a retest of 105.00 and then 118.00, with a protective stop below 94.00 for short-term positioning; a deeper swing stop below 82.00 would better suit longer-horizon bullish trades.

The 4-hour chart shows a neutral-to-bullish short-term setup, with price at 98.1689 recovering after a pullback but still trading beneath the 50-period SMA at 105.0459 while remaining comfortably above the rising 200-period SMA at 91.2046. That split matters because it tells us the short-term trend has cooled after a powerful rally, yet the broader intraday structure is still constructive unless the market starts breaking below the 200-period average. The nearest resistance is 100.80, which is current pivot resistance and roughly aligns with the recent rebound ceiling, while 105.00 is the more important upside barrier because it matches the 50-period SMA and the prior 4-hour swing highs; a break through that zone would suggest the correction phase has ended and that buyers are ready to challenge the higher spike region again. Initial support is 95.00, which has acted as a short-term demand shelf during the recent retracement, and below that 91.20 is critical because it is where the 200-period SMA is rising and where trend-following buyers would be expected to step back in. The Stochastic Momentum Index at 18.91% has recovered from weaker levels but remains subdued, so momentum is improving without yet fully confirming a fresh trend leg higher. That means there is no strong bearish divergence at present, but there is also not enough momentum confirmation to chase strength aggressively under resistance. In practical terms, this chart favours patience: traders can look for a breakout long only on sustained trade above 100.80, targeting 105.00 initially and then higher if momentum expands, while dip-buyers may consider 95.00–96.00 as the first tactical accumulation zone with stops below 94.00. If 95.00 fails, the correction likely extends toward 91.20, and a break below the 200-period SMA would shift the short-term outlook from neutral-bullish to outright bearish.