News
7x24
Quotes
Economic Calendar
Video
Data
- Names
- Latest
- Prev.
Short-term Rebound Nears End, Market May Resume Downtrend
Commodity
Summary:
The latest U.S. ADP crude oil inventory data indicates ample supply, while Venezuela's resuming exports are expected to weigh on oil prices, potentially driving them lower.
Sell
CLOSEDWTI
End Time
61.000
Entry Price
55.800
TP
62.500
SL
58.924 -0.271 -0.46%
1802
Points
Profit
55.800
TP
59.198
CLOSING
61.000
Entry Price
62.500
SL
Fundamentals
Today, WTI hovered around $60.80, with intraday movements characterized by a "short-term rally being suppressed by supply news" pattern. Markets are balancing between increased supply from Venezuela's restored exports and ongoing geopolitical risks related to Iran and Russia. Inventory data temporarily curbed upward momentum, leading to sharp but limited volatility driven by news flow.
First, the most direct factor altering today's price trajectory is Venezuela's resumption of supply. Reports indicate that, following changes in U.S. actions regarding Venezuelan exports, more Venezuelan crude is flowing to the U.S., increasing North American crude availability and widening the WTI-Brent discount, which exerts short-term downward pressure on WTI.
Second, official and industry data show a recent uptick in U.S. commercial crude inventories, with the API reporting a weekly increase of over 5 million barrels. This is viewed in trading circles as evidence of ample near-term supply, thereby restraining sustained upward price momentum. From the supply side and a political view, OPEC+ didn't make significant production expansions in the past months, maintaining a general stance focused on price stability. However, reports from institutions and the International Energy Agency (IEA) revised global supply growth downward, while demand improvements remain limited, creating a tug-of-war between "news-driven supply" and "structural supply-demand dynamics."
Technical Analysis
Based on the daily chart, WTI's recent candlestick patterns show a continuous uptrend after breaking through the previous downtrend channel. It briefly surpassed the $61.00 mark yesterday, but closed below it, indicating some resistance at this level.
Currently, WTI faces resistance in the $61.00–$62.00 range. If WTI fails to break above and sustain levels above $62.00 in the short term, the subsequent trend may resume its downtrend, with the first target potentially dropping to the $58.50 support level, or even falling to $55.00. Conversely, if WTI breaks above $62.00 and holds, its upside potential could expand further, with a possible test of the $64.00 resistance level.
Trading Recommendations
Trading direction: Sell
Entry price: 61.00
Target price: 55.80
Stop loss: 62.50
Valid Until: January 28, 2026, 23:00:00
Support: 58.50/57.50
Resistance: 61.21/62.00
Risk Warnings and Investment Disclaimers
You understand and acknowledge that there is a high degree of risk involved in trading with strategies. Following any strategies or investment methodologies is the potential for loss. The content on the site is being provided by our contributors and analysts for information purposes only. You alone are solely responsible for determining whether any trading assets, or securities, or strategy, or any other product is suitable for you based on your investment objectives and financial situation.
Quick Access to 7x24
Quick Access to More Editor-selected Real-time News
Exclusive video for free
FastBull project team is dedicated to create exclusive videos
Real-time Quotes
View more faster market quotes
More comprehensive macro data and economic indicators
Members have access to entire historical data, guests can only view the last 4 years
Member-only Database
Comprehensive forex, commodity, and equity market data
English
English
العربية
繁體中文
简体中文
Bahasa Melayu
Bahasa Indonesia
ภาษาไทย
Tiếng Việt
Copyright © 2026 FastBull Ltd
Home News Columns 7x24 Economic Calendar Quotes Video Data WarehouseAnalysis AI Signal Pro User Agreement Privacy Policy About Us
Risk Disclosure
The risk of loss in trading financial assets such as stocks, FX, commodities, futures, bonds, ETFs or crypto can be substantial. You may sustain a total loss of the funds that you deposit with your broker. Therefore, you should carefully consider whether such trading is suitable for you in light of your circumstances and financial resources.
No consideration to invest should be made without thoroughly conduct your own due diligence, or consult with your financial advisors. Our web content might not suit you, since we have not known your financial condition and investment needs. It is possible that our financial information might have latency or contains inaccuracy, so you should be fully responsible for any of your transactions and investment decisions. The company will not be responsible for your capital lost.
Without getting the permission from the website, you are not allow to copy the website graphics, texts, or trade marks. Intellectual property rights in the content or data incorporated into this website belongs to its providers and exchange merchants.