Crude Oil Market Outlook – June 3, 2025
Crude Oil (WTI) is starting the session with bullish technical signals, trading firmly above the intraday pivot point of $62.25. As the commodity continues its recovery path, traders are closely watching the $63.65 and $64.20 resistance zones for confirmation of bullish continuation.
Rising geopolitical tensions in oil-producing regions and renewed demand from Asia have supported upward pressure on oil prices. Technically, momentum indicators are aligning in favor of the bulls, suggesting a potential upside breakout in today’s session.
WTI Intraday Technical Setup
| Key Level | Price |
|---|---|
| Pivot Point | $62.25 |
| Resistance 1 | $63.65 |
| Resistance 2 | $64.20 |
| Support 1 | $61.70 |
| Support 2 | $61.10 |
Technical Strategy – June 3, 2025
✅ Bullish Scenario (Preferred Strategy):
- Entry Point: Long positions above $62.25
- Price Targets: First at $63.65, extended to $64.20
- Rationale:
- RSI is leaning bullish
- Price holding above 20-period EMA
- MACD nearing bullish crossover
🔻 Bearish Scenario (Alternative View):
- Entry Point: If price dips below $62.25
- Targets: $61.70, potentially extending to $61.10
- Triggers: Strong U.S. dollar, weaker global demand, or surprise OPEC+ decisions
💬 Analyst Comment
“WTI crude remains supported above its $62.25 pivot, reflecting market confidence in supply tightness and demand resilience. A break above $63.65 could signal a fresh leg higher in oil’s short-term trend.”
Technical Indicators Summary
| Indicator | Signal |
|---|---|
| RSI (14) | Mixed to bullish (hovering around 55) |
| MACD | Close to bullish crossover |
| EMA (20) | Supportive (price above EMA) |
| Momentum | Positive but not overbought |
| Price Pattern | Bullish continuation likely |
Fundamental Drivers for Oil Prices
- Middle East Supply Risks: Rising tensions in major oil-exporting nations are keeping supply fears alive.
- Demand Recovery: China and India continue to increase imports amid industrial growth.
- U.S. Crude Inventory: Lower stockpile data from EIA is lending support to WTI prices.
- OPEC+ Policies: Investors await next week’s OPEC+ output decision.
- Weak USD: A softer U.S. dollar makes crude oil more attractive for non-dollar holders.
Weekly Crude Oil Price Forecast
Assuming the bullish structure holds, WTI crude may test the upper zone of $64.20–$64.80 later this week. A breakdown below $62.25, however, could retarget the $61.00 support area.
| Forecast Zone | Bias | Probability |
|---|---|---|
| $63.65–$64.20 | Bullish | High |
| $61.10–$61.70 | Neutral | Medium |
| Below $61.00 | Bearish | Low |
Key Takeaways
- WTI crude trades with bullish bias above $62.25
- Next resistances: $63.65 and $64.20
- Support to monitor: $61.70 and $61.10
- Traders watch for OPEC+ guidance and inventory data
- RSI and MACD support upward continuation
Frequently Asked Questions (FAQs)
1. What is the crude oil forecast for June 3, 2025?
WTI crude oil is showing a bullish bias above $62.25, with upside targets at $63.65 and $64.20.
2. Is crude oil expected to rise today?
Yes, as long as WTI holds above $62.25, momentum favors upward movement toward higher resistance levels.
3. What are today’s key technical levels for WTI?
- Pivot: $62.25
- Resistance: $63.65 & $64.20
- Support: $61.70 & $61.10
4. What factors are driving oil prices today?
Supply risks, strong Asian demand, low U.S. inventories, and a weak dollar are supporting higher oil prices.
5. Should I trade WTI oil now?
Traders with a bullish view could consider long positions above $62.25. However, proper risk management is essential.
6. What happens if WTI breaks below $62.25?
A break below $62.25 could trigger short-term selling pressure toward $61.10, though broader trends remain bullish.
Disclaimer
This article is for informational and educational purposes only and does not constitute financial advice or investment recommendations. Trading commodities like crude oil involves significant risk and may not be suitable for all investors. Always perform your own analysis or consult a licensed financial advisor before trading.
