- The WTI snatches the streak of two days of necklace, the major resistance sits at $ 65.
- The price reinforces the 21-day EMA, the technical speed improves as the RSI becomes neutral.
- The possibilities of the Iran atomic deal and the OPEC+ supply strategy are widely weighing the spirit.
West Texas Intermediate (WTI) is trading around $ 62 on Friday before the crude oil weekend, staging a minor rebound after a two -day defeat. The US Oil found a renewed purchasing interest after a retract of the $ 55 support zone, where a potential double-botum structure has been formed on the daily chart. While short-term technical photographs have improved, macroeconomic and geopolitical headwinds, especially the growing organization of the growing organization (OPEC+) of Petroleum Exporting countries and the possible return of the Iranian barrel continue to weigh at the spirit.
OPEC+ Supply Strategy and Iran spoke of cloud to Outlook
OPEC+recent steps to increase production have introduced fresh negative risk in oil markets. Saudi Arabia and major colleagues are becoming less keen to carry the burden of cuts alone, and the group warns that all voluntary cuts -the day 2.2 million barrels (BPD) -are unwanted by Q4 of 2025 from Kota if quota discipline does not improve.
Meanwhile, new expectations from the United States (US) -Caping the rebound of nuclear deal oil. Diplomats suggest that progress has been made, and analysts estimate that a deal may bring back as 800,000 BPD of Iranian supply. These developments have resumed the overhang of a recession as the market tries to stabilize.
Technical approach: WTI is above the short -term major support, but the line remains in $ 65 sand
Technically, WTI has managed to stay above $ 60 psychological level, while $ 55 defending double-bottom base-a region that marks the lowest levels since 2021. The daily chart value rebuilds the 21-day exponential moving average (EMA) at $ 61.29, a short-term rapid signal. The relative power index (RSI) has gone up to 50.70, while the moving average convergence deviation (MACD) has become positive, indicating mild recovery in fast speed.
The reverse said that the $ 65 is limited to the handle, which aligns with the previous support-resistance and April breakdown zone. A broader tendency will require a daily closer above $ 65 to confirm a wider tendency. Failure to do so may stuck WTI in $ 55- $ 65 consolidation range. Traders will look closely for fresh headlines on Iran, OPEC+ policy shifts, and macro data, so that the next directional move can be run.
