Petroleum price forecast: WTI is recovered at $ 74.00 before stabilizing above $ 72.00

• WTI oil shoots above $ 72 while tensions between Israel and will trigger a break.
• June profits are about 20%, pushing prices above key levels of long -term fibonacci.
• The 12 -month mobile average provides additional support below $ 70.

WTI crude oil is shooting in the middle of the climbing of geopolitical tensions, with the recent attacks of Israel to Iran feeding a recovery that pushed prices above the area of ​​74.00 $ on Friday. At the time of writing, the WTI is quoted just below $ 72.00 after Iran respond with its own missile bombardment, marking a gain close to 20% for June and reversing much of the weakness observed earlier this year.

Despite the generalized pressure in the first half of 2025, the recent price increase has raised the WTI above several key technical levels, with an upward impulse accumulating in multiple time frames.

Long -term oil configuration wt

From a long -term perspective, the WTI has recovered the simple mobile average (SMA), which is currently $ 69.46. This level now serves as dynamic support. Above, resistance is forming in the fibonacci setback of 23.6% of the maximum of March 2022 as of April 2025, located at $ 71,71.

WTI oil monthly chart

WTI oil medium -term configuration

In the weekly graphic, the WTI broke above the 12 -week SMA in $ 63,29 after the escalation between Iran and Israel, marking a pivotal change in the feeling. This increase has brought prices to fibonacci setback from 78.6% of the fall from January to April at 74.11 $. The 12 -week SMA continues to offer support about $ 63.31, underlining a solid base for the bulls.

Weekly WTI oil graphics

WTI oil short -term configuration

As we approach the daily chart, Friday’s bullish impulse promoted a decisive movement above 100 days and 200 days SMA, strengthening the case for a greater increase. The technical confluence with long -term Fibonacci levels adds credibility to the breakup.

The Relative Force Index (RSI) in the daily frame is currently in 76, indicating overcompra conditions. However, with the geopolitical background intensifying, the fundamental support can prevail over short -term exhaustion.

WTI oil daily graphics

Looking forward: What’s still for oil?

If the WTI breaks and remains above $ 74.11 at the beginning of next week, the impulse could take it to $ 76.00 and eventually $ 78.00. On the contrary, the inability to maintain levels above $ 71,71 could trigger a setback, especially if geopolitical tensions are relieved or if the market approach returns to concerns on the side of demand.