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Crude Oil Price Outlook – Crude Oil Continues to Find Buyers on Dips
Published: Jun 18, 2025, 14:25 GMT+00:00
The crude oil market continues to see a lot of noisy trading, as the war in the Middle East will continue to drive fear into the markets, shown by massive spikes in pricing.
WTI/CL Technical Analysis
The light sweet crude oil market has pulled back just a bit in the early hours here on Wednesday to show signs of life, but it has turned around quite rapidly. With this, I think you have a situation where we are just in a buy on the dip mode. I don’t really see anything out there that would change anything on this chart and my description of it.
So as long as there is a lot of concern with the oil disruption in the Middle East through the hot wars, it’s just a situation where you have to look at this as a market that eventually goes higher. I have no interest in shorting this market, but if we were to break down below the 200 day EMA, then we could drop to $65, which has to be the absolute floor here.
Brent Technical Analysis
The Brent market initially pulled back just a bit to show signs of life, and a little bit later just went straight back up. The $75.50 level is an area that has been massive in its implication, if we can break above the $78.25 level, it’s likely that the $82 level is a target short term pullbacks, I believe continue to get bought into here in the Brent market as well. And I just don’t have any interest whatsoever in trying to short this market. I think if there’s an end to the war, maybe we get a sudden flush. But we will turn around. We had been building up for a while, so this was just the excuse that bulls needed in this market.
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About the Author
Christopher Lewisauthor
Christopher Lewis is an experienced trader that specializes in technical analysis and markets prediction. Chris has over 20 years of experience across a wide variety of markets and assets - currencies, indices, and commodities.
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