Crude Oil Sees Bullish Momentum on June 18, 2025
Crude Oil (WTI) is showing renewed bullish energy on June 18 as prices hold firm above the key pivot level of $72.00. Traders are closely watching this support level for long opportunities, with a clear technical path to higher resistance near $75.50 and beyond.
Let’s dive into the intraday outlook, RSI signals, resistance zones, and key technical levels guiding today’s trade.
Intraday Technical Setup: Crude Oil (WTI)
- Pivot Point: $72.00
- RSI Status: Above 50, signaling bullish momentum
Preferred Scenario – Long Setup:
- Entry: Above $72.00
- Target 1: $75.50
- Target 2: $76.45
Alternative Scenario – Bearish Setup:
- Entry: Below $72.00
- Target 1: $70.95
- Target 2: $69.60
RSI and Momentum Commentary
The RSI indicator remains above its neutrality mark at 50, indicating a shift toward bullish sentiment. This reinforces the preference for long positions as buying momentum builds across major timeframes.
Key Support and Resistance Levels
Support Levels:
- First Support: $72.00 (pivot)
- Additional Support: $70.95
- Deeper Support: $69.60
Resistance Levels:
- First Resistance: $75.50
- Major Resistance: $76.45
Technical Price Action Outlook
- Crude oil is currently trending higher on the back of strong hourly chart structure.
- A breakout above $75.50 could open the door to further upside, particularly if global fundamentals align.
- The 20-period moving average on short-term charts supports the bullish case.
Market Fundamentals Supporting Oil Prices
- Geopolitical Tensions: Ongoing instability in key oil-producing regions is tightening supply.
- OPEC+ Policy: Expectations around production cuts are contributing to bullish sentiment.
- U.S. Inventory Drawdowns: Weekly EIA data shows declining stockpiles, bolstering prices.
- Macroeconomic Sentiment: Rate cut speculation and rising industrial activity support higher energy demand.
Trading Tips for WTI Crude – June 18, 2025
- Wait for Confirmation: A candle close above $75.50 may signal a breakout.
- Use Tight Stop-Losses: Consider stops below $71.50 for bullish positions.
- Monitor RSI Across Timeframes: A 15-min RSI above 60 usually precedes a momentum rally.
- Correlate with USD Trends: A weaker U.S. dollar typically supports crude prices.
Frequently Asked Questions (FAQs)
Q1: What is the intraday pivot level for crude oil today?
A1: The pivot point is $72.00.
Q2: Is crude oil in a bullish or bearish trend today?
A2: Oil is bullish above $72.00, with targets at $75.50 and $76.45.
Q3: What are key resistance levels to watch?
A3: Watch $75.50 and $76.45 on the upside.
Q4: What downside risks exist if support breaks?
A4: A break below $72.00 may lead to $70.95 or even $69.60.
Q5: What does the RSI tell us about crude oil momentum?
A5: RSI is bullish above 50, signaling buyer strength.
Q6: What fundamental events are influencing crude prices?
A6: OPEC+ cuts, inventory data, dollar moves, and geopolitical risks all play a role.
Q7: Can this setup be used for short-term trading?
A7: Yes. These levels are suitable for intraday and short-term swing traders.
⚠️ Disclaimer:
This content is for informational and educational purposes only and should not be considered financial advice. Trading crude oil involves significant risk. Please consult with a licensed financial advisor before making trading decisions.
