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Crude Oil Price Outlook – Crude Oil Continues to Bounce Around
Published: Aug 28, 2025, 13:28 GMT+00:00
The crude oil market has been a bit noisy over the last few days, as we are trying to find a range from which to trade. At this point, there is a serious oversupply issue in this asset, and as a result, the upside is probably somewhat capped.
WTI/CL Technical Analysis
The light sweet crude oil market is hanging around the psychologically important $64 level as we are trying to determine which direction to go. I think at this point in time, we are basically just sideways and looking as if we are trying to get out of the picture the area of support and resistance, perhaps anchored at $65. This is an area that’s been very important multiple times. The fact that we have the 50 day EMA sitting there as well probably has a lot to do with why technical traders are so stringently defending this area or attacking it, depending on what side of the market they’re on.
Ultimately, think crude oil has a major issue in the sense that Russia, the United States and OPEC are all pumping massive amounts of oil out and there are questions about the economy. However, there are a certain amount of buyers out there due to the fact that Donald Trump recently has put more sanctions on tankers, specifically Iranian tankers. So that has changed things a bit. Ultimately, at this point in time, I do think that we will form some type of short-term range that we can trade back and forth, with the $65 being resistance.
Brent Technical Analysis
The Brent market has bounced a bit from the $67 level, and this is a market that is paying close attention to the 50-day EMA. The 50-day EMA, of course, is flattening out though, and above there we have the $69 level. I think ultimately, we might be looking at a range between $65 and $69, and basically, we are smack dab in the middle of it, meaning that we probably have quite a bit of push and pull at the same time. Range trading is the preferred way to attack this market, but right now we’re in the middle of it, so a little bit of patience will be necessary.
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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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