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WTI Crude Oil has failed to break above $105, with bears eyeing a critical resistance level at $96.40 on the 4-hour chart. The price has retraced most of its recent gains, forming a bearish trend line that could signal a potential reversal. Technical indicators suggest increasing bearish pressure if the $96.40 level is breached, which may trigger further declines toward key support zones. Gold is also under pressure near $4,950, while EUR/USD remains in consolidation above 1.1740. For traders, this development highlights a pivotal moment for energy markets, with oil prices directly impacting global inflation and equity markets. A breakdown below $96.40 could intensify short-term volatility and shift risk sentiment. Investors should monitor central bank policies and OPEC+ supply decisions for potential counter-moves. The next 48 hours will be critical to determine whether bears can sustain control or if bulls will defend key levels.
