WTI Crude Oil, Technical Analysis – H4

The gap in the $87.00 area has been formally closed, which opens the possibility for the market to attempt a bounce higher from this zone. This setup is additionally supported by a fresh wave of tensions in the Strait of Hormuz. If the scenario materializes, the asset could initiate a recovery move toward the $100 per barrel level.

Key Levels

□ $87.00 — Key support / bounce zone  

□ $100 — Major upside target  

□ $82.00 — Critical downside support  

□ $90.00–$92.00 — Intermediate resistance  

Primary Scenario:

Upward rebound from the $87.00 level.

Alternative Scenario:  

Breakdown below $87.00 with a subsequent test of the recent low around $82.00.

Analyst Commentary: 

Wait for a clear positive reaction at the $87.00 level before taking long positions.