Over the past 24 to 48 hours, the WTI crude oil market has seen notable volatility, with prices swinging between a high of 57.75 USD and a low of 56.32 USD, closing at 57.61 USD compared to the previous close of 57.32 USD. This price movement was primarily driven by geopolitical upheaval in Venezuela after the U.S. captured Venezuelan President Nicolás Maduro, stirring concerns about potential disruptions in oil supply from the region.

The market’s reaction to the Venezuela crisis has been mixed. Although crude prices initially surged due to geopolitical risk premiums, underlying pressures from an already oversupplied market weighed heavily on prices, resulting in increased volatility. Investors sought refuge in safe-haven assets such as gold and silver to mitigate risk during this uncertain period. The event has introduced a new dilemma for the crude market: heightened geopolitical tension increases the chances of supply disruption, while global supply surplus and weak demand forecasts for 2026 continue to cap price gains.

For the average investor, the recent market movements reflect an already supply-heavy market suddenly confronted with new risk factors, causing sharper-than-usual price swings. This underscores the importance of closely monitoring geopolitical developments and supply-demand fundamentals in crude oil, and adjusting investment strategies swiftly to navigate the rapidly changing oil market landscape.

Daily Chart

The daily chart shows WTI Crude Oil in a consolidative phase, with prices oscillating mostly between $56 and $58 since December 2025. The 50-day and 200-day moving averages are intertwined, indicating an indecisive medium-to-long-term trend. The Bollinger Bands are narrowing, reflecting tight consolidation. The MACD indicator is beginning to show bullish divergence, suggesting accumulating upward momentum that could lead to a breakout.

1H Chart

The hourly chart covering the last 5 trading days reveals a short-term uptrend with price retracements followed by rebounds near key support levels. The 20-period moving average has started to slope upwards, and short-term moving averages are aligned bullishly. The Bollinger Bands have widened, implying increased short-term volatility. The MACD’s fast line has recently crossed above the slow line, indicating a bullish signal. A bullish engulfing candlestick pattern appeared recently, hinting at potential continuation of the upward move in the short term.

Technical Trend:  The current trend for WTI Crude Oil appears cautiously bullish, in a phase of steady rebound with potential for further upward breakout after consolidation.

Technically, WTI Crude Oil is in a critical consolidation zone with recently increased volatility due to Venezuela’s political events adding uncertainty. The bullish MACD divergence on daily charts and the bullish engulfing pattern on the hourly chart present potential buy signals. Monitoring short-term moving average supports and resistance is key to identifying possible breakout or reversal points.

There are no significant economic events scheduled today that would directly impact WTI Crude Oil prices. Traders should continue watching geopolitical developments and global supply-demand reports as the primary catalysts for price movements.

Resistance & Support

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