During Monday’s Asian trading session, NYMEX West Texas Intermediate (WTI) crude oil futures rose 1.7%, trading around $59.30 per barrel. Oil prices opened strongly as OPEC+ agreed to halt production increases starting from Q1 2026, providing solid buying support at the open.
On the 1-hour chart, crude oil is showing high-level consolidation, with prices repeatedly oscillating around the moving average system, indicating a short-term neutral, range-bound objective trend.
However, from a subjective trend perspective, the bias remains to the upside. The MACD fast and slow lines have pulled back toward the zero axis and are about to form a bullish crossover, suggesting that bullish momentum is building.
There is a high probability that crude oil will break to new intraday highs today.
Intraday Trading Plan:
Buy near: $59.00
Take Profit 1: $60.00
Take Profit 2: $60.50
Stop-loss: Adjust based on individual risk tolerance
On the 1-hour chart, crude oil is showing high-level consolidation, with prices repeatedly oscillating around the moving average system, indicating a short-term neutral, range-bound objective trend.
However, from a subjective trend perspective, the bias remains to the upside. The MACD fast and slow lines have pulled back toward the zero axis and are about to form a bullish crossover, suggesting that bullish momentum is building.
There is a high probability that crude oil will break to new intraday highs today.
Intraday Trading Plan:
Buy near: $59.00
Take Profit 1: $60.00
Take Profit 2: $60.50
Stop-loss: Adjust based on individual risk tolerance
I invite you to copy my trading signals or join my channel for stable signal support and consistent profits.
👉t.me/Ronnie_Signal_sharing
👉t.me/Ronnie_Signal_sharing
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
I invite you to copy my trading signals or join my channel for stable signal support and consistent profits.
👉t.me/Ronnie_Signal_sharing
👉t.me/Ronnie_Signal_sharing
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.