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Crude Oil Price Outlook – Crude Oil Continues to Find Buyers on Dips
Published: Jun 19, 2025, 14:25 GMT+00:00
The crude oil market continues to see a lot of buying on dips, as the war in the Middle East continues to threaten the idea of oil supply worldwide, which could be a massive issue, reflected in the price.
WTI/CL Technical Analysis
The light sweet crude oil market has rallied a bit during the trading session on Thursday, in a day that is a holiday in the United States. Juneteenth is going to keep the markets closed during normal hours. So, we do have a little bit of a liquidity issue. And of course, the markets are closed at noon in America. So, there’s a period of time when the markets won’t be moving at all.
That being said, oil is moving quite a bit on the latest headlines coming out of the Middle East, so that is something worth paying attention to. As the war in the Middle East continues there are concerns about disruption of supply. Because of this, I think you still have a buy-on-the-dip mentality in this contract, as well as pretty much any other grade of crude oil. The 200-day EMA sits at the $68.51 level and is rising offering a bit of a floor.
Brent Technical Analysis
Brent markets pulled back just a bit, only to turn around and show signs of life again, with the $75.50 level offering a little bit of a floor. At this point, if we can rally from here, the $78.45 level has been a bit of a barrier, but breaking above there opens up a move all the way to the $82 level. Again, I have no interest in shorting oil, I think as long as there’s tension in the Middle East, oil will continue to climb and quite frankly, it had been forming a basing pattern for what seemed like a lifetime before it. So this all ties together quite nicely for oil markets eventually going higher or at the very least not falling very significantly.
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About the Author
Christopher Lewisauthor
Christopher Lewis is an experienced trader that specializes in technical analysis and markets prediction. Chris has over 20 years of experience across a wide variety of markets and assets - currencies, indices, and commodities.
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