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Commodities

WTI Oil Price Stuck at Critical Resistance Zone

Guavy AI Editorial Team
Instruments
Oil
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Crude Oil WTI is currently trading at $93.98 on the 5-hour chart, locked in a tug of war just below a massive resistance zone at $95.60-$97.73.

This level combines multiple bearish technical barriers, making the next move high-stakes for both bulls and bears.

The confluence of Fibonacci, SuperTrend, and the upper Ichimoku cloud between $95.60-$97.73 is a potent resistance cluster that has kept the price below its 50-period SMA ($97.06) and SuperTrend ($95.94).

Momentum is turning as MACD recently crossed up (-0.59 vs -1.00), hinting at short-term recovery within the bigger bearish story.

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