#CL Timeframe H4 
Based on the #CL (Crude Oil) chart on the H4 timeframe, the current price movement is still under medium bearish pressure after failing to sustain the upward momentum formed in mid-May. Analysis using the 100-period Moving Average (blue line) and the 200-period Moving Average (red line) indicates a negative market structure. The MA 100 has moved downwards and is below the MA 200 in most recent areas, indicating that selling pressure is still more dominant than buying pressure. Additionally, the current price position is also below both moving averages, further strengthening the signal that the main trend is still downwards. From a price action perspective, it can be seen that after reaching a peak in the $109-110 per barrel range in mid-May, the price experienced a sharp correction breaking through several important support levels. This decline brought the price below $102.67, then $99.41, and eventually moved below the $95.98 zone. The failure of the price to stay above the MA 100 after a rebound in early June indicates that buyers still do not have enough strength to significantly reverse the trend. Any increases that have occurred so far tend to be opportunities for market participants to sell again. The nearest support level currently lies in the $90.17 area being tested by the price. This zone plays a crucial role as it has previously been a bounce point resulting in short-term buying reactions. As long as the price is able to stay above this level, the possibility of consolidation or technical rebound remains open. However, if selling pressure increases and the $90.17 support is convincingly breached, the next downside target could potentially move towards the $86.30 area, which is the next strong support. This area is significant as it coincides with the price movement base at the end of May and early June. If $86.30 is also not held, market focus will shift towards the major support around $80.62, which is the lowest point in this chart's range. On the resistance side, the $95.98 area serves as the first hurdle to overcome if the price wants to build a stronger recovery. This level previously acted as support before eventually turning into resistance after the breakdown. Above it, the next resistance is at $99.41, which is also close to the position of the MA 100, making it a potentially strong selling area. If buyers manage to push the price above both levels, the next upside target will move towards the $102.67 area, which is an important horizontal resistance and a level that can shift medium-term sentiment to a more neutral stance. However, as long as the price remains below this area, the bearish trend remains the primary scenario. The latest candlestick structure also indicates a weakening of the upward momentum. After briefly rebounding towards the $96-97 per barrel range in early June, the price faced rejection again and formed a series of candles with lower peaks. This pattern illustrates that every attempt at an increase is still met with selling pressure. This condition aligns with the downward slope of the MA 100 and the relatively flat to slightly declining position of the MA 200, reflecting the absence of significant trend changes. From a broader technical perspective, the market is currently in a distribution phase after a strong rally that occurred from late April to mid-May. The inability of the price to return above the psychological $100 per barrel area indicates that bullish sentiment is starting to wane. Therefore, as long as the price remains below the $95.98 resistance and especially below $99.41, the chances of a decline towards $90.17 and $86.30 are higher than the chances of a sustained increase. In conclusion, the technical outlook for #CL on the H4 timeframe remains bearish. The price position below the MA 100 and MA 200 indicates seller dominance in the medium term. Key support levels to watch are at $90.17 and $86.30, while important resistance levels are located at $95.98, $99.41, and $102.67. As long as the price is unable to break back above these resistance areas, any increases still have the potential to be corrections in a larger downward trend. Therefore, market focus in the upcoming sessions will be on the ability of the $90.17 support to withstand the current selling pressure.
*L'analyse de marché présentée est de nature informative et n'est pas une incitation à effectuer une transaction
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