In the daily chart of WTI crude oil, price continues to move inside a wide support range between 55 and 60 dollars — a zone that has repeatedly acted as a major demand area in recent months and prevented deeper sell-offs. The overall trend remains bearish, as the descending trendline shows sellers stepping in at every minor pullback. However, the price structure is gradually showing early signs of weakening bearish momentum.
At the lower boundary of the range, two key levels at 55.96 and 55.15 dollars stand out as the final defensive line before price enters an even stronger support zone below 55. These levels are expected to attract buyers and trigger a noticeable reaction. The chart also highlights a possible false break below support followed by a sharp recovery — a classic pattern that often initiates a bullish corrective wave.
If price manages to break above the descending trendline and holds above the short-term corrective area (the light-blue box), the first bullish target will activate around 62 to 64 dollars, which represents the first significant resistance after a trendline breakout. A continuation of this upward move could push price toward the major supply zone between 73 and 79 dollars, the origin of the previous large downward move.
On the downside, if the 55-dollar supports fail, the market may slide into the heavier support zone between 52 and 54 dollars, where substantial demand is expected. Given the compression in structure and the reduction in selling momentum, the probability of a rebound from the lower range and the start of a bullish corrective leg currently appears slightly higher.
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