🟡 Gold (XAUUSD) Technical Analysis
07 Aug 2025
🔥 Natural Gas (NG) Technical Analysis
07 Aug 2025
🛢️ WTI Crude Oil (CL) Technical Analysis
07 Aug 2025
04 Aug 2025
🛢️ WTI Crude Oil Technical Forecast – Bears Gain Control Below EMA Zones
🔻 Momentum Flips Bearish Below $67.80
WTI crude oil is showing signs of renewed bearish pressure after breaking below its ascending price channel and slipping beneath both the 50-EMA and 100-EMA on the 2-hour chart. The move away from the $70.49 swing high has triggered a classic “three black crows” candlestick formation—a bearish continuation pattern known for preceding deeper declines.
Price action is now consolidating below $67.20, a key pivot area that previously acted as support. If bulls fail to reclaim the $67.80–$68.20 zone, the bearish narrative remains dominant.
🔍 Technical Highlights
📉 Trend Shift: Momentum turned negative after a breakdown beneath short-term EMAs.
📊 Candlestick Signal: The "three black crows" formation reinforces bearish control.
🧭 EMA Analysis: Both the 50-EMA and 100-EMA on the H2 chart have flipped into resistance.
📉 Price Structure: Failed bounce attempts suggest sellers are capping rallies.
📉 Bearish Scenario (Preferred Until $68.20 is Reclaimed)
Bearish Entry Opportunity:
If price retests $68.00 and forms a bearish engulfing or shooting star candle, sellers could re-enter with high conviction.
Stop-Loss Placement:
A stop above $68.80 helps keep the trade well-defined and protects against whipsaws.
Target Zones:
$66.56 – Near-term support
$65.78 – Technical target based on prior demand zone
Potential for deeper extension if breakdown accelerates
📈 Bullish Invalidation Level
If WTI breaks and holds above $68.20, it may neutralize the short-term bearish bias. This would invalidate the breakdown setup and shift attention toward $69.40–$70.00 retests.
🧠 Conclusion
WTI crude oil favors trend-following bearish setups as long as the price remains below the $68.20 resistance area and fails to reclaim its 50/100-EMA levels. With bearish candlestick patterns and key supports under threat, the focus remains on short entries with clean price action confirmations.
⚠️ Disclaimer: This is general market commentary and educational analysis. It is not financial advice. Always consult a licensed professional before making trading decisions.
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