Crude Oil future Chart Analysis and Technical Analysis

Crude oil technical analysis today

Every year, around September, crude oil prices usually shift their trend, most often turning from bearish to bullish. This happens mainly because of the colder weather in Europe, which increases fuel demand. A similar pattern is often seen in natural gas (NG) as well.

This year, there’s another big factor inflation. With rising prices across almost all commodities, most of them are showing a steady upward movement. By studying this chart through price action analysis, we can clearly identify the entry points, stop-loss levels, and potential targets for crude oil future trading.

Current crude oil price action (mcx)

So right now, crude oil’s taking support near around ₹5,350. After that steep drop from the recent highs, the price seems to be catching its breath, more or less hanging around a latest support near ₹5,400–₹5,350. It’s almost like the market’s trying to decide for next trend .

Crude Oil Future Support & Resistance Levels to watch closely

🟢 Support Areas

1. Latest Support: Around ₹5,400 – ₹5,350
   This one’s more like an intraday cushion. If prices keep closing above this, there’s a fair chance we’ll see a small bullish push from here.

1. Main Support Zone: ₹5,100 – ₹5,150
   This area’s been showing solid buying strength. Every time price touches this range, buyers seem to step in, keeping things afloat. But if it slips below ₹5,100, we might actually see a quick drop toward ₹4500 

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🔴 Resistance Areas

1. Immediate Resistance (Breakout Point): ₹5,515 – ₹5,550
   This is the real test zone. If crude can climb past ₹5,550 and stay there, it could trigger a decent upside rally.
2. Next Resistance Zone: ₹5,810 – ₹5,780
   Prices have struggled around here before, so some selling pressure might kick in again.
3. Major Resistance: ₹6,030 – ₹6,000

 

Upside Targets for Crude Oil

(If Breakout Holds Above ₹5,550)

1. First Target: ₹5,550 — for Short term trader or Intraday Trader
2. Second Target: ₹5,750 — that is Second target , mid-level where short-term traders might lock some profits.
3. Third Target: ₹6,000 — If prices sustain above 5700 then third target will get definatly .

Technical Snapshot

• Trend: Still sideways for now, but leaning a bit bullish if ₹5,485 keeps holding firm. trying to change trend from bearish to sideway or bullish .
• Price Structure: Forming higher lows — that’s a good sign of accumulation, meaning buyers are quietly stepping in.
• Volume: A rise in volume with a push above ₹5,550 would show strong buyer conviction.
• Momentum: Keep an eye on RSI and Moving average Crosover ( 50-100)

Final Take

Crude oil’s kinda stuck at a make-or-break stage. If it can stay above ₹5,485 and get through ₹5,550, we could easily see a stretch toward the ₹6,000 mark.

But if that support cracks below ₹5,100, things might slide down further. So yeah, it’s one of those “wait for confirmation” setups — patience is key right now.

WTI Crude Oil Futures – Daily Chart Analysis

So, looking at this daily chart, crude oil seems to be moving in a sideways range after a decent drop from earlier highs. Right now, prices are trading near $60.70, holding just above a short-term support zone between $59.50 – $60.00. This area has acted as a base recently, and as long as the price stays above it, there’s a fair chance of a rebound.

Support Zones

1. Latest Support: $59.50 – $60.00
   This is the immediate zone where buying has shown up lately. Holding above this level can attract short-term buyers.

2. Extended Support: $55.13 – $56.07
   If the market breaks below $59.50, then this zone could be tested next. It’s a deeper support area where strong buyers might return.

Resistance Zones & Targets

1. First Target Zone: $64.50
   A minor resistance level — once the price crosses $61–$62, this could be the next short-term target.

2. Second Target Zone: $68.50
   A stronger hurdle — if prices build momentum, this level could be achieved next.

3. Major Resistance Zone: $75.50 – $77.00
   This area marks a heavy supply zone. Sellers have previously taken control here, so the market will need strong volume and sentiment to break through it.

Technical View on Crude oil Light 

• Trend: Still in a range-bound phase, slightly tilting bullish near the current support.

• Structure: Price seems to be forming higher lows since mid-October — an early sign of accumulation.

• Momentum: A daily close above $61.00 could confirm strength toward the next targets.

• Volume & Confirmation: A rise in volume during an upward move will strengthen the bullish case.

 

❓  FAQs on Crude Oil Technical Analysis

1. What is the current crude oil price?
MCX crude oil is near ₹5,350–₹5,400, and WTI crude trades around $60.70.

2. What are crude oil price targets?
If it breaks ₹5,550 / $61, targets are ₹5,750 / $64.50, ₹6,000 / $68.50, and ₹6,520 / $75.50.

3. Key support and resistance levels?
Support: ₹5,350–₹5,100 / $60–$55
Resistance: ₹5,550–₹6,000 / $64–$75

4. Why does crude oil turn bullish after September?
Cold weather in Europe boosts fuel demand, often turning crude oil and natural gas bullish.

5. How to plan entries and stop-loss?
Buy above breakout levels ₹5,550 / $61 with stop-loss below ₹5,350 / $59.50 for safer trades.