2026-02-19 00:24:00
Crude oil prices appear to have hit a ceiling after posting strong gains in the past few trading sessions.
Will this lead to Black Crack dipping back toward its previous support areas?
Here’s what we’re seeing on the 4-hour time frame:
Progress in the U.S.-Iran nuclear talks appears to have stalled in recent sessions, with U.S. Vice President JD Vance saying Iran has yet to meet Washington’s core demands and even hinting that military action remains a possibility. Reports that Iran issued notices about planned rocket launches on Thursday likely heightened tensions and may have helped lift oil prices.
At the same time, upbeat U.S. mid-tier data and softer top-tier reports out of major economies like the U.K. and New Zealand have kept overall risk appetite supported, which may also be helping crude oil hold its ground.
Remember that directional biases and volatility conditions in market price are typically driven by fundamentals. If you haven’t yet done your homework on the U.S. dollar and WTI crude oil, then it’s time to check out the economic calendar and stay updated on daily fundamental news!
USOIL has been stuck in a 400-pip range between $62.00 and $66.00 since late January and is now knocking on the $65.00 psychological level, which lines up with the R1 Pivot Point at 65.04.
Bearish candlesticks and sustained trading below $65.00 could attract fresh selling pressure and drag USOIL back toward the $64.00 mid range or even the $62.00 support zone.
Still, the commodity could simply be catching its breath before another leg higher. A clear break above the $66.00 range resistance could pave the way for a move toward the R2 Pivot Point at 67.28.
Whichever bias you end up trading, don’t forget to practice proper risk management and stay aware of top-tier catalysts that could influence overall market sentiment.
Disclaimer:
Please be aware that the technical analysis content provided herein is for informational and educational purposes only. It should not be construed as trading advice or a suggestion of any specific directional bias. Technical analysis is just one aspect of a comprehensive trading strategy. The technical setups discussed are intended to highlight potential areas of interest that other traders may be observing. Ultimately, all trading decisions, risk management strategies, and their resulting outcomes are the sole responsibility of each individual trader. Please trade responsibly.
Promoted: Protecting your trading capital starts with securing your access. Don’t let a weak password be the single point of failure for your brokerage or exchange accounts. LastPass simplifies your digital life by generating and storing complex, encrypted passwords for every site you use. Secure Your Accounts with LastPass Today!
Disclosure: We may earn a commission from our partners if you sign up through our links, at no extra cost to you.
