🛢️ Crude Oil at a Critical Turning Point — Is a Major Rebound About to Begin?
Since May 20, crude oil has been in a relentless downtrend with almost no meaningful rebound. After falling more than 40% from its recent high, the market is now approaching a critical technical zone.
From a technical perspective, price is testing a major support area while remaining inside a descending trend structure. If buyers can defend this level and price breaks above the short-term downtrend line, a larger technical rebound could develop. However, if support fails, the bearish trend may continue.
From a fundamental perspective, geopolitical risks remain elevated. The conflict has not fully ended, and global energy supply uncertainty continues to influence market sentiment. At the same time, after such a sharp decline, short-covering and bargain buying could increase if confidence begins to return.
This is not the time to blindly call a bottom—it's the time to watch for confirmation.
Key Levels to Watch:
📍 Major Support: Current support zone
📍 Resistance: 75–80 area
📍 Watch for: A confirmed breakout above the downtrend line and sustained buying momentum.
The biggest opportunities are often born when fear is at its highest.
I'm closely watching this zone. If support holds, crude oil could be setting up for its first meaningful rebound in weeks.
This reflects my personal market analysis and is not financial or investment advice.
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David(001)
