WTI crude oil bounces above $ 61.00 while bulls defend the base of $ 55.00, with the rise limited by Iran and the risk of OPEC+ supply

• The WTI breaks a two -day loss streak, the key resistance is $ 65.
• The price recovers the EMA of 21 days, the technical impulse improves as the RSI becomes neutral.
• Iran’s nuclear agreement perspectives and Opec +’s supply strategy weigh on the broader upward feeling.

The West Texas Intermediate (WTI) crude oil is quoted around $ 62 on Friday before the weekend, registering a modest rebound after breaking a two -day loss streak. American oil found a renewed buyer interest after a new test of the 55 $ support zone, where a possible double floor structure has formed in the daily chart. Although the short -term technical image has improved, the winds against macroeconomic and geopolitics, especially around the increase in the production of the organization of oil export countries (Opec+) and the possible return of Iranian barrels, continue to weigh on the feeling.

Opec +’s supply strategy and conversations about Iran cloud the perspectives

The recent Opec+ movement to increase production has introduced new downward risks in oil markets. Saudi Arabia and key allies are less and less willing to load with the load of the cuts alone, and the group has warned that all voluntary reductions – which total 2.2 million barrels per day (BPD) – could get rid of the fourth quarter of 2025 if it does not improve the discipline of quotas.

Meanwhile, the renewed hopes of a nuclear agreement between the United States (USA) and Iran are limiting the bounce of oil. Diplomats suggest that progress has been made, and analysts estimate that an agreement could bring back up to 800,000 Iranian supply BPD. These developments have reintroduced a bearish pressure while the market tries to stabilize.

Technical Perspectives: WTI remains above the short -term key support, but $ 65 is still the line in the sand

Technically, the WTI has managed to stay afloat above the psychological level of $ 60, while defending the double floor of $ 55 – a area that marks the lowest levels since 2021. The daily chart shows the price recovering the exponential mobile average (EMA) of 21 days in $ 61.29, a short -term upward signal. The Relative Force Index (RSI) has risen to 50.70, while the histogram of the convergence/divergence of mobile socks (MACD) has become positive, indicating a slight recovery in the bullish impulse.

That said, the bullish potential remains limited near the $ 65 zone, which aligns with the previous support converted into resistance and the April rupture zone. A daily closure would be required above $ 65 to confirm a broader trend reversion. The lack of this could keep the WTI trapped in a consolidation range of 55 $ to $ 65. The operators will be attentive to new headlines about Iran, changes in the policy of Opec+ and macroeconomic data to boost the next directional movement.