WTI prices prognosis: WTI crude oil maintains profits above $ 62, the impulse accumulates for a higher increase

• WTI quote around $ 62.80 on Thursday, rising 1.20% but below the maximum of the 63.30 $ session.
• The price action breaks the bullish flag pattern, confirming the short -term upward trend.
• Immediate resistance seen at $ 63.00 –63.50 $; A sustained break could aim at 65.00 and $ 66.37 (100 -day SMA).
• The support is found at $ 62.00; A rupture below could drag the prices back at 60.00.

The West Texas Intermediate (WTI) crude oil extends its recovery on Thursday, taking advantage of the profits of the early week while the bulls capitalize a breakout of bullish flag. At the time of writing these lines, the WTI quote around $ 62.80, with an increase of almost 1.20% in the day, and slightly below the maximum intradic of $ 63.30. The recent price action reflects a healthy consolidation phase after the strong recovery of 3% on Monday, suggesting that the bullish impulse remains intact while the operators observe the key levels of resistance ahead.

From a technical point of view, the recent rupture of a bullish flag formation adds weight to the ongoing upward trend. This continuation configuration arose after the strong rebound on Monday and was followed by a moderate and descending setback, a typical benefit signal within an upward trend.

The rupture has kept so far above the level of $ 62.00, but the bulls now face a short -term test in the resistance zone of 63.00 –63.50 $. This rank, just below the maximum of the week, has acted as a short -term limit and needs to be decisive to confirm the bullish control and open the path to the psychological barrier of $ 65.00, which has limited the profits since mid -April. In addition, the simple mobile average (SMA) of 100 days at $ 66.37 serves as the following important technical objective.

Downwards, if the WTI fails to stay above $ 62.00, prices could fell again to the flag pattern, with key support near the round figure of $ 60.00 at the lower end of the channel. A break below that would weaken the upward perspective.

Momentum indicators continue to support the upward configuration. The 14 -day relative force (RSI) index is gradually increasing and is currently 54.49, comfortably above the 50th 50th brand, indicating a bullish impulse without showing overcompra conditions. The exchange rate indicator (ROC) is also maintained in positive territory, pointing out persistent ascending pressure. While the price is maintained above $ 62.00, the bullish rupture remains valid. However, a sustained fall below this threshold would increase the risk of a false break, with a possible sliding back to the flag channel and the $ 60.00 area emerging as critical support at the lower end of the pattern.