Intraday Crude Oil (WTI) Analysis – June 4, 2025
Pivot Point: $62.85
✅ Preferred Scenario: Bullish Above $62.85
- Entry: Long positions above $62.85
- Targets:
- 🎯 $63.85 (initial resistance)
- 🎯 $64.20 (extended target)
Momentum remains positive as WTI holds above the key pivot of $62.85. A breakout above $63.85 could trigger an extension toward $64.20. Momentum indicators like RSI suggest potential for upward continuation.
❌ Alternative Scenario: Bearish Below $62.85
- Entry: Short positions below $62.85
- Targets:
- 🔻 $62.30
- 🔻 $61.70
A drop below $62.85 could signal renewed selling pressure. In this case, WTI may retest $62.30 and possibly $61.70. Look for a bearish RSI crossover or weaker macro signals to validate this view.
📊 Technical Insight:
“While a brief consolidation phase may continue, its downside should remain limited unless $62.85 is decisively broken.”
Key Technical Indicators
| Indicator | Signal |
|---|---|
| Pivot Level | $62.85 |
| RSI | Mixed to bullish, room to rise |
| Momentum | Improving above pivot |
| Trend Bias | Short-term bullish |
Key Crude Oil Price Levels to Watch
| Type | Levels |
|---|---|
| 🔹 Pivot | $62.85 |
| ⬆️ Resistance | $63.85, $64.20 |
| ⬇️ Support | $62.30, $61.70 |
Frequently Asked Questions (FAQs)
🔸 Is crude oil bullish or bearish today?
Crude oil shows a bullish bias above the $62.85 pivot. Upside targets include $63.85 and $64.20.
🔸 What is the main support for WTI crude oil?
Support lies at $62.85. A drop below this could lead to a decline toward $62.30 and $61.70.
🔸 What indicators suggest upside in oil?
RSI is showing upward momentum, and price is trading above the pivot, both indicating bullish strength.
🔸 What could trigger a downside move?
A break below $62.85 with declining volume and a bearish RSI crossover could trigger a downside move.
🔸 Should traders watch macro events?
Yes. Inventory data, OPEC+ news, and USD strength can heavily impact oil price direction.
Disclaimer:
This analysis is intended for informational and educational purposes only. It does not constitute financial or investment advice. Trading crude oil and other commodities involves substantial risk and may not be suitable for all investors. Always perform your own due diligence and consult a licensed financial advisor before making trading decisions. Past performance does not guarantee future results.
