{"id":33753,"date":"2025-09-18T14:16:10","date_gmt":"2025-09-18T14:16:10","guid":{"rendered":"https:\/\/xlence-com.wp-dev.int.theitops.net\/?post_type=news_analysis&#038;p=33753"},"modified":"2025-12-16T13:57:06","modified_gmt":"2025-12-16T13:57:06","slug":"crude-oil-flatlines-near-the-64-per-barrel-area-as-potency-of-catalysts-dry-out","status":"publish","type":"news_analysis","link":"https:\/\/www.xlence.com\/ko\/news-analysis\/crude-oil-flatlines-near-the-64-per-barrel-area-as-potency-of-catalysts-dry-out\/","title":{"rendered":"Crude oil flatlines near the $64 per barrel area as potency of catalysts dry out"},"content":{"rendered":"\n<ul class=\"wp-block-list\">\n<li>Lack of interest but also fundamental developments can best characterize the situation that crude futures are currently facing, with neither the bulls nor the bears having strong enough resolve of getting control of the direction of the commodity.<\/li>\n\n\n\n<li>Even though the Federal Reserve lowered its key benchmark rate by 25bps yesterday and signalled<br>its intents at lowering further its policy rates, energy markets remain somewhat cautious and<br>unreactive to the prospects of higher demand (stemming from looser financial conditions) and<br>remained fixated upon prospects for softer economic growth.<\/li>\n\n\n\n<li>As for the latest crude oil inventory data, EIA showcased a surprise drawdown of 9 million barrels of<br>crude over the past week, the most in three months, signalling rekindling of the demand function,<br>which aided prices slightly higher this week. API stocks showcased similar trend, with stockpiles<br>dwindling with twice the pace analysts forecasted.<\/li>\n\n\n\n<li>Finally, drone strikes from both Russia and Ukraine against each other and the shutdown of key<br>infrastructure sites and refineries kept supply disruption worries alive alongside the threats from US<br>President Trump who continues to broadcast the US\u2019s readiness of imposing \u201cmajor\u201d sanctions on<br>Russia if NATO countries and Europe take similar steps<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-technical-analysis-of-oil\"><strong>Technical Analysis<\/strong> <strong>of Oil<\/strong><\/h2>\n\n\n\n<p><strong>WTI Chart <\/strong>\u2013 Crude temporarily bottoms above the $61 per barrel area possible charge of the $65 area at bay<\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><img fetchpriority=\"high\" decoding=\"async\" width=\"839\" height=\"449\" src=\"https:\/\/www.xlence.com\/wp-content\/uploads\/2025\/09\/crude-oil-xlc-report-18-9-2025.jpg\" alt=\"WTI crude oil daily chart (Jan\u2013Sep 2025) with price trendlines, EMA 12 &amp; 26 indicators, RSI, ADX, and MACD. Chart highlights April 2nd tariff impact and Israel strikes on Iranian nuclear sites. Key resistance at 74.50\u201370.50 and support at 61.90\u201358.00.\" class=\"wp-image-33754\"\/><\/figure>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Resistance<\/strong>: <strong>&nbsp;<\/strong>65.60 (R1), 68.70 (R2), 72.50 (R3)<\/li>\n\n\n\n<li><strong>Support<\/strong>: 61.50 (S1), 58.00 (S2), 55.15 (S3)<\/li>\n<\/ul>\n\n\n\n<p>Buying and selling pressures neutralized each other this week and crude futures are currently gyrating<br>around the $64 per barrel area, striving to keep the distance from the $61.50 (S1) base area intact. Given<br>the lack of substantial fundamental catalysts and the failure of the bears of breaching the $61.50 level, we<br>are forced to alter our bias from bearish to a sideways scenario for the time being. <\/p>\n\n\n\n<p>Supporting our case is an RSI value that interchangeably crosses above and below the 50 level for some time now, alongside the ADX value that plummeted to the 13 level, due to lack of strength from either the bulls or the bears. +DI and -DI values are also below the 20 threshold, highlighting absence of substantial interest from either side. <\/p>\n\n\n\n<p>We note however, that in the scenario where the bulls find enough resolve, drive price action decisively<br>above the descending trendline and lead the charge of the $65.60 (R1) resistance ceiling, we would be<br>forced to consider a possible change of our assessment and lean towards a bullish bias. Should on the other hand, the bears regain control and drive prices lower, we would require first seeing a successful break of the $61.50 (S1) support area before altering our bias towards the bearish side.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Technical Analysis of Oil WTI Chart \u2013 Crude temporarily bottoms above the $61 per barrel area possible charge of the $65 area at bay Buying and selling pressures neutralized each other this week and crude futures are currently gyratingaround the $64 per barrel area, striving to keep the distance from the $61.50 (S1) base area [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":28178,"template":"","news_category":[110],"class_list":["post-33753","news_analysis","type-news_analysis","status-publish","has-post-thumbnail","hentry","news_category-weekly-insights-oil"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.2 (Yoast SEO v27.2) - 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