FX.co ★ Mou78Ibrahim | CL/Crude Oil

CL / WTI Crude Oil – Market Analysis - 9 January 2026 Market Overview & Price Action WTI crude oil posted a strong rebound after recent selling pressure, gaining momentum as prices bounced from weekly lows. The recovery was supported by tightening short-term supply signals, including inventory draw expectations and renewed geopolitical risk premium. Despite the rebound, the broader market structure remains mixed to slightly bearish, as traders continue to factor in expectations of potential supply surplus in 2026 and steady non-OPEC production growth. Buyers are active on dips, but upside follow-through remains limited unless key resistance levels are broken. Short-term bias: Neutral to cautiously bullish Medium-term bias: Mixed / corrective within a broader range Key Technical Levels Resistance 59.00 – 59.40: Immediate resistance zone and first bullish trigger 60.50 – 61.00: Major resistance; a daily close above strengthens upside momentum 62.00 – 63.00: Upper range resistance and trend-shift level Support 57.20: Near-term support and key downside pivot 55.00: Strong psychological and structural support 54.00: Bearish extension level if selling accelerates Technical Momentum Indicators RSI: Holding in neutral territory, indicating room for expansion in either direction MACD: Still tilted bearish, but showing early signs of momentum stabilization Price Structure: Recovery within a broader descending channel Trade Setups & Entry Ideas Bullish Continuation Setup Buy Entry: Above 59.00 on strong bullish confirmation Targets: 60.50 62.00 Stop Loss: Below 57.20 Rationale: Break above near-term resistance confirms rebound continuation Bearish Rejection Setup Sell Entry: Rejection or failure below 59.40 Targets: 57.20 55.00 Stop Loss: Above 60.50 Rationale: Broader market remains vulnerable to supply-driven downside pressure Breakout Strategy (Directional) Bullish Breakout: Daily close above 61.00 Targets: 63.00 – 64.00 Bearish Breakdown: Daily close below 55.00 Targets: 52.80 – 50.00 Key Risk Factors to Monitor Inventory data and supply updates OPEC+ production guidance U.S. dollar strength Geopolitical developments affecting energy supply Outlook Summary WTI crude is trading within a critical decision zone. Holding above 57.20 keeps rebound attempts alive, while a clear break above 59.40 – 60.50 would strengthen bullish continuation. Failure to hold support reopens downside toward 55.00 and lower. Key pivot range: 57.20 – 60.50