Technical Analysis: Crude Oil Futures (CL) – Daily Chart (as of June 27, 2025)
Crude oil has been exhibiting a more nuanced and potentially volatile picture compared to the indices. As of Friday, June 27, 2025, crude oil (WTI) futures settled around $65.52 per barrel.
Overall Trend and Price Action:
- Crude oil has been in a consolidation or bearish correctional phase over recent days and weeks, particularly after earlier attempts to stabilize. There are mixed signals depending on the short-term versus medium-term view.
- Some analyses noted a slight decline in the last intraday trading session on Friday, amid the formation of negative technical patterns.
- However, the long-term perspective shows that it’s still operating within a broader bullish background trend, even with short-term relapses. The general range for WTI seems to be between $65-$85 in recent months, with prices pulling back from earlier highs.
- Earlier in the week (around June 24), prices had tumbled back to “pre-conflict” levels, suggesting geopolitical risk premium had faded, but later in the week, it attempted to recover.