MacroAug 12, 2026, 4:57 AM

WTI Crude Oil Bulls Eye Break Above $83.00, Supported by 38.2% Fibo

WTI crude oil prices rise for a third session, holding near two-week highs just under $83.00. Bulls target a breakout above this level, supported by the 38.2% Fibonacci retracement.

WTI

West Texas Intermediate crude oil extended gains for a third consecutive day on Wednesday, inching closer to the $83.00 mark during Asian trading. The commodity held near its highest level in almost two weeks, supported by technical buying around the 38.2% Fibonacci retracement level.

Bullish momentum remains in control, with market participants now awaiting a clear break above the $83.00 barrier. A sustained push beyond this resistance could pave the way for further upside, while a rejection might invite a short-term pullback.

Source: FXStreet Forex News

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