Key Highlights
- WTI Crude Oil prices started a decent increase above $65.00.
- The bulls could aim for more gains above $68.00 and $68.80.
- Gold started a fresh increase above $5,050 and $5,120.
- EUR/USD found support near 1.1740 and corrected some losses.
WTI Crude Oil Price Technical Analysis
WTI Crude Oil prices started a decent increase above $63.50 against the US Dollar. The price settled above $65.00 to enter a positive zone.
Looking at the 4-hour chart of XTI/USD, the price cleared a key bearish trend line with resistance at $65.35. The price settled above $65.00, the 100 simple moving average (red, 4-hour), and the 200 simple moving average (green, 4-hour).
On the upside, immediate resistance is near the $67.20 level. The first key hurdle for the bulls could be $68.00. A close above $68.00 might send Oil prices toward $68.80. Any more gains might call for a test of $70.00 in the near term.
On the downside, the first major support sits near the $65.50 zone. The next support could be $65.00, below which the price could dive and test the 100 simple moving average (red, 4-hour) at $63.95.
A daily close below $63.95 could open the doors for a larger decline. In the stated case, the bears might aim for a drop toward $62.00 and the 200 simple moving average (green, 4-hour).
Looking at Gold, the bulls remained in action, and the price started a fresh increase above the $5,120 resistance.
Economic Releases to Watch Today
- US Housing Price Index for Dec 2025 (MoM) – Forecast +0.3%, versus +0.6% previous.
- Fed’s Waller speech.
- Fed’s Cook speech.
