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OIL – Technical Analysis – 4h

November 4, 2025 17:01

Quick Summary

The chart analysis of Crude Oil Futures on the 4-hour timeframe reveals a recent bullish move followed by a period of consolidation.

Notably, an initial sharp decline bottomed out, forming a reversal pattern that sparked a rally. However, current market conditions show indecisiveness.

Candlestick Analysis

The chart shows a recent bullish move followed by consolidation.

Initially, there was a sharp decline, which bottomed out and formed a reversal pattern leading to a rally.

A potential bullish engulfing pattern appeared earlier, which may have signaled the recent uptrend.

MACD Analysis

The MACD line is close to the Signal line, indicating potential indecision or a lack of strong momentum.

The recent bearish crossover suggests caution, as momentum could decline further.

The histogram shows decreasing bearish momentum, which may indicate a potential shift in trend if a crossover occurs.

Volume Analysis

There was a noticeable increase in volume during the recent price rise, suggesting strong buying interest supported the upward movement.

Recent volume levels have decreased, aligning with the current consolidation phase.

A previous volume spike during the upward move could indicate institutional buying.

Support & Resistance

Support is around 59.00, from prior consolidation and reversal points.

Resistance is approximately 61.85, indicated by previous peaks and the current consolidation zone.

A breakout above 61.85 could indicate further bullish momentum, whereas a breakdown below 59.00 might suggest a return to bearish conditions.

Actionable Insights

Consider entry points if the price breaks above the resistance level at 61.85 with increasing volume.

Watch for a break below the support level at 59.00, especially if accompanied by increasing volume.

Current conditions suggest waiting for clearer signals to confirm the next direction.

The AI Technical Analysis Center is an informational tool only and does not constitute investment or trading advice.
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