The daily chart reveals a weakening structure as price remains below all key moving averages, with the 50-day SMA (pink) at 67.80 acting as immediate dynamic resistance and the 200-day SMA (green) trending lower, reinforcing the broader downtrend. The 14-day SMA (blue) has crossed beneath the 50-day SMA, confirming short-term weakness within the prevailing bearish bias. The Stochastic Momentum Index (SMI) is deeply oversold at -77.02%, but with no visible bullish divergence, suggesting momentum remains firmly on the sellers’ side despite the possibility of a short-term bounce. Immediate resistance is at 67.80, coinciding with the 50-day SMA, followed by 69.50 if buyers attempt a recovery. Key support lies at 65.43, with a break below this level opening the way to the 63.00 region, a prior swing low. Given the alignment of trend and momentum, the outlook remains bearish, and rallies into resistance should be viewed as potential short entries. A protective stop for short positions can be placed above 69.50 to guard against trend reversals.

On the daily timeframe, price action remains under pressure, having failed to hold above the 50-day SMA (pink) at 67.81, which has now turned into immediate overhead resistance. The 14-day SMA (blue) has rolled over and crossed below the 50-day SMA, adding to the bearish sentiment, while the 200-day SMA (green) remains above price, capping medium-term recovery attempts. The Stochastic Momentum Index is deeply negative at -69.43%, indicating strong downside momentum with no immediate signs of reversal. Price has also broken below the short-term horizontal support near 66.00, opening the door to a retest of the June swing low around 63.20. Immediate resistance lies at 67.81, followed by the 200-day SMA near 70.00, which would need to be reclaimed to shift the longer-term bias towards neutral. Until then, rallies into resistance are likely to attract sellers. A protective stop for short positions should be placed above 70.00, as a breakout there would invalidate the current bearish structure.

WTI has broken below its key short-term support at 65.85, extending a decline from late July and closing decisively under both the 50-day SMA (67.79) and 200-day SMA. This MA alignment, with the 14-day SMA rolling over beneath the 50-day, confirms a downside trend structure and signals that rallies into the 67.80–69.00 zone are likely to meet selling pressure. The Stochastic Momentum Index at -71.21% is in oversold territory, but price action remains heavy, suggesting that any bounce may be corrective unless price recaptures and holds above the 50-day SMA. A further slide toward 63.50 is possible if 65.85 fails to hold on a retest. Traders with a bearish bias could consider stops above 69.00, as a daily close above this level would negate the immediate downtrend.

WTI crude oil has shifted into a bearish longer-term bias as the price has broken below the converging 14-day (blue), 50-day (pink), and 200-day (green) SMAs, which are now acting as overhead resistance rather than support. The 14-day SMA is rolling over, while the 50-day SMA is positioned higher at 67.78, both contributing to downside pressure. Price is currently consolidating just above the key horizontal support level at 64.35, but with the Stochastic Momentum Index plunging into oversold territory at -65.20%, there is risk of further decline unless a bullish divergence develops or support holds. Momentum remains negative and aligned with the recent price trend, confirming the downward pressure rather than offering reversal signals. If the 64.35 level fails to hold, the next downside target becomes 61.90, a previous consolidation low from May. Traders should treat any rally into the SMA cluster as an opportunity to reinitiate shorts. A stop loss should be placed above the 50-day SMA at 67.78, as a close above this level would invalidate the bearish structure.