WTI OIL Analysis: IEA raises demand expectations

Fundamental Analysis of WTI OILWTI OIL Key Takeaways

US reciprocal tariffs: Trump explains reciprocal tariffs-meaning that no matter how much tariffs other countries impose on the United States, we will also impose the same tariffs on them, no more and no less. The United States announced that the tariffs will be postponed until at least April, which gave the world hope to avoid a trade war, and oil prices remained basically flat.

IEA Monthly Report: The IEA lowered its expectations for global oil oversupply in 2025 and raised its expectations for demand growth, indicating that the market supply and demand relationship is tightening. Reduced supply and increased demand usually push up oil prices.

Technical Analysis of WTI OIL Daily and Hourly Charts

(WTI OIL Daily Price Chart, Source: Ultima Markets MT4)

PA: Oil prices closed with a long lower shadow yesterday, supported by the horizontal price of 70.86. In today’s Asian session, oil prices may be dominated by a rebound trend in the short term.

Rebound target: Although the short-term downward trend of oil prices is blocked, the overall downward structure has not been destroyed for the time being. The intraday rise is temporarily regarded as a rebound, looking at the upper purple 13-day MA.

WTI OIL 1-hour Chart Analysis

（WTI OIL H1 Price Chart, Source: Ultima Markets MT4)

Stochastic oscillator: The indicator sends a short signal, and the rebounded oil price may fall into adjustment in the short term. Be alert to the deep adjustment after the oil price and the indicator form a top divergence.

Rebound target: There is still a probability that the oil price will continue to rise before it falls below 70.767. The upper target looks at the order block of 72.486, which is also near the green 200-period MA.

Pivot Indicator Insights for WTI OIL

(WTI OIL M30 Price Chart, Source: Ultima Markets APP)

According to Pivot Indicator in Ultima Markets APP, the central price of the day is established at 70.95,

Bullish Scenario: Bullish sentiment prevails above 70.95, first target 72.10, second target 72.60;

Bearish Outlook: In a bearish scenario below 70.95, first target 70.60, second target 70.25.

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