Crude Oil Price Forecast – June 22, 2021

WTI Crude Oil Technical Analysis and Short-Term Forecast

WTI crude oil is still poised to reach at least $73.7 and ultimately the next major objective at $75.0. However, today’s bearish doji warns that a test of support will probably take place first. Moreover, Kase StatWare formed a bearish KasePO (momentum) divergence and a short warning signal on a $0.35 Kase Bar chart. Support at $72.1 will likely hold and $71.2 is key support for the near term. Closing below $71.2 will confirm the bearish doji and shift near-term odds in favor of $70.6 and likely a test of $69.8 before the move up continues.

WTI Crude Oil - $0.35 Kase Bar Chart with Kase StatWare — WTI Crude Oil – $0.35 Kase Bar Chart with Kase StatWare

This is a brief analysis for the next day or so. Our weekly Crude Oil Forecast and daily updates are much more detailed and thorough energy price forecasts that cover WTI, Brent, RBOB Gasoline, Diesel, and spreads. If you are interested in learning more, please sign up for a complimentary four-week trial

Published by

Dean Rogers, CMT

Dean Rogers, CMT is the President of Kase and Company, Inc. He oversees all of Kase's operations including research and development, marketing, and client support. Dean began his career with Kase in early 2000 as a programmer but developed into Kase’s senior technical analyst and became President of the company in January 2024. He writes Kase’s award-winning weekly Crude Oil, Natural Gas, and Metals Commentaries. He is an instructor at Kase's classes and webinars and provides all of the necessary training and support for Kase's hedging models and trading indicators for both retail and institutional traders. View all posts by Dean Rogers, CMT

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