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Crude Oil Price Outlook – Crude Oil Continues to Bounce
Published: Aug 22, 2025, 14:23 GMT+00:00
The crude oil market continues to see a slightly upward pressure to it, but at this point it is more likely than not just a short-term situation. With this, there are still sellers above waiting for better entries.
WTI/CL Technical Analysis
The light sweet crude oil market has shown itself to be a little bit bullish in the early hours here on Friday, as we continue to see a little bit of a recovery. The United States has sanctioned some Iranian tanker fleet. So, this of course, has people a little bit concerned about supply. But quite frankly, I think a lot of this just comes down to the fact that oil has sold off so viciously.
We still have plenty of problems when it comes to supply, with OPEC, the United States and Russia all pumping a ton of oil into the market. So, I think the upside for oil is still somewhat limited. Looking at this chart, I’d say $65 is probably the most obvious ceiling that we have, but we could break above there and go look into the 200 day EMA, which would actually be a decent move. If we break down below the $61.50 level, then the $60 level could be targeted.
Brent Technical Analysis
The Brent market also looks a little bit positive in the early hours and I think if we can break above the 50 day EMA, we could see a little bit more in the way of momentum, perhaps driving the market to the $69 level. A short-term pullback from here is very possible. And if we get it, then I think the $65 level gets targeted.
The $65 level has been support over the last week or so. And I think it will probably continue to matter. Ultimately though, I think oil is oversold, but I also think the upside is somewhat limited at this point and we do have to treat it as such. So short-term bullish is possible, but I don’t think we’ve seen a long-term turnaround quite yet.
About the Author
Christopher Lewisauthor
Chris is a proprietary trader with more than 20 years of experience across various markets, including currencies, indices and commodities. As a senior analyst at FXEmpire since the website’s early days, he offers readers advanced market perspectives to navigate today’s financial landscape with confidence.
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