WTI Fails at Key Fibonacci Level, Slides Toward $74.00

West Texas Intermediate (WTI) crude oil, the US benchmark, is trading with a negative bias during the Asian session after failing to hold gains near the 23.6% Fibonacci retracement level. The price has slipped back toward the $74.00 mark, unable to capitalize on a two-day rally that had taken it to a two-week high the previous day.

The technical setup remains mixed, suggesting limited directional conviction in the near term. Traders are watching for a clear breakout or breakdown from the current range.