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Prezzi
macroJul 13, 2026, 4:37 AM

WTI Crude Oil Climbs Above $74, Bearish Bias Remains Below Key Levels

West Texas Intermediate crude oil prices rose above $74 during Asian trading, though the bearish bias persists as long as the price stays below the 23.6% Fibonacci retracement and 200-EMA.

USOIL

West Texas Intermediate crude oil prices edged higher during the Asian session, breaking above the $74.00 level. The move follows a modest bullish gap opening.

Technical analysis indicates the bearish trend remains intact as long as the price stays below the 23.6% Fibonacci retracement level and the 200-period exponential moving average. Traders are monitoring whether WTI can sustain gains above these resistance levels to shift the outlook.

No breakout confirmation is yet in place, leaving the broader downtrend under pressure.

Source: FXStreet Forex News