Crude Oil (WTI)

Key insight

$79.89 cracks 50-day MA at $81.50; next firm floor is $78.40 (200-day MA). A daily close below $78.40 opens $75.00. Upside capped at $83.00 prior swing high until sentiment shifts.

Drops 2.62% to $79.89, breaking below the 50-day MA at $81.50 — selling pressure dominant with no intraday recovery attempt, signalling distribution near recent range highs.

Main risk

OPEC+ surprise output cut reversal

Unscheduled OPEC+ reversal of output increases would spike WTI toward $85–$88; current $79.89 shorts exposed to headline risk.