WTI Crude Oil Price Forecast – June 10, 2025
Crude oil prices (WTI) remain buoyant as bullish momentum continues to build above the $64.85 pivot. After a relatively stable start to the trading week, prices are showing signs of further upside, with technical indicators like RSI signaling continued buyer strength.
Let’s dive into today’s forecast, analyze key levels, and examine the possible trading scenarios shaping the WTI oil market.
🔹 Current Price Action and Technical Outlook
- Current Trend: Bullish above $64.85
- Pivot Point: $64.85
- Resistance Targets: $66.10 (primary), $66.70 (extended)
- Support Levels: $64.20 (primary), $63.80 (extended)
- RSI Status: Above 50, indicating upside momentum
📈 Preferred Scenario:
If WTI holds above the $64.85 pivot level, long positions are favored. Bulls may push prices toward the first target of $66.10, and if momentum persists, an extension toward $66.70 is likely.
📉 Alternative Bearish Scenario:
Should prices drop below $64.85, downside pressure may re-enter the market. In that case, we expect support to be tested at $64.20, and if that breaks, further downside toward $63.80.
Key Technical Indicators
✅ Relative Strength Index (RSI):
Currently positioned above the neutral 50 line, indicating that the market still favors buyers. If RSI strengthens further, it could signal a stronger breakout toward $66.70.
✅ Moving Averages:
WTI remains above the 20-period and 50-period moving averages on the intraday chart, reinforcing the bullish short-term trend.
✅ MACD:
The MACD histogram shows positive divergence, adding confirmation to the upside scenario.
Market Factors Supporting Crude Oil
Several macro and geopolitical elements are currently providing a supportive backdrop for crude prices:
- Middle East Tensions: Ongoing geopolitical uncertainty continues to keep supply risk elevated.
- OPEC+ Production Discipline: Supply cuts and coordinated efforts to balance global output help maintain price stability.
- Demand Recovery Signs: Global travel and industrial activity are picking up, increasing oil consumption.
- Dollar Weakness: A softer USD boosts commodity prices, including crude.
Intraday Trading Strategy:
- Entry Point (Buy): $64.90–$65.10
- Take Profit Levels: $66.10 / $66.70
- Stop Loss (for Long): $64.50
- Risk/Reward Ratio: 1:2+
What to Watch This Week
- U.S. Crude Inventory Data (EIA): Will be a crucial indicator for near-term direction.
- Federal Reserve Announcements: Any hint on interest rate paths could affect the USD and oil.
- China Economic Data: As a major importer, any slowdown or strength in China’s economy can swing crude markets.
Expert Insight:
“The technical setup for WTI crude remains bullish in the short term. As long as prices hold above $64.85, traders should consider building long exposure while monitoring macro catalysts like Fed signals and inventory data.”
— Energy Market Analyst, PipsInfo
Frequently Asked Questions (FAQs)
1. What is the short-term trend for WTI Crude Oil?
The short-term trend remains bullish above $64.85, with targets at $66.10 and $66.70.
2. What does the RSI indicate for oil today?
The RSI is above 50, suggesting continued bullish momentum and buying interest.
3. What are the key support and resistance levels?
- Support: $64.20, $63.80
- Resistance: $66.10, $66.70
4. Is this a good time to buy crude oil?
Technically, yes—if WTI stays above $64.85. But traders should also consider macroeconomic risks and set tight stop losses.
5. What could push oil prices lower?
A stronger U.S. dollar, rising inventories, or weak global economic data could reverse the bullish sentiment.
6. Can oil reach $70 this week?
While $70 is a psychological level, technicals don’t yet suggest that range for this week unless a strong bullish catalyst emerges.
Disclaimer:
The information provided in this article is for educational and informational purposes only. It does not constitute financial advice or investment recommendation. Commodity trading involves risk, and past performance does not guarantee future results. Always consult with a licensed financial advisor before making trading decisions.
