WTI Crude Oil Prices Decline Below Key Support Levels

WTI Crude Oil prices have been on a downward trend, failing to surpass $94.00 against the US Dollar and starting a fresh decline from that zone.

The price has broken below key support levels, including $85.00, and the 100 simple moving average (red, 4-hour), which could lead to further losses.

According to technical analysis, if the bears remain in action, there could be more losses for WTI Crude Oil prices, with potential targets at $74.50, $72.80, and $70.00 on the downside.

In contrast, a close above $82.50 might send Oil prices toward $85.00, but this would require breaking through resistance levels including $78.10 and a connecting bearish trend line at $80.50.