
Crude oil futures have experienced a sharp sell-off, with price action showing large, fast-moving bars and the last price at 91.91. Short-term momentum is decisively bearish, as confirmed by the WSFG and MSFG trends both pointing down and price trading below their respective NTZ/F0% levels. The short-term swing pivot trend is down, with the most recent pivot low established at 91.91, while the next potential reversal would require a move up to 104.88. Resistance levels are stacked above, with the nearest at 94.20 and major resistance at 104.88 and 117.63. Support is further below at 84.57 and then much lower at 69.93 and 65.22. Daily benchmarks reinforce the short-term bearishness, with the 5, 10, and 20-day moving averages all trending down and above the current price. However, intermediate and long-term moving averages (55, 100, 200-day) remain in uptrends, suggesting the broader bullish structure is intact despite the current correction. The intermediate-term HiLo trend remains up, indicating that the larger swing structure has not yet fully reversed. ATR is elevated, reflecting increased volatility, while volume remains robust. Recent trade signals show a mix of short and long entries, but the majority are short, aligning with the prevailing short-term downtrend. Overall, the market is in a corrective phase within a longer-term uptrend. The short-term outlook is bearish with potential for further downside or consolidation, while the intermediate-term is neutral as the market tests key support levels. The long-term trend remains bullish, with the possibility of a resumption of the uptrend if support holds and momentum shifts. The current environment is characterized by volatility, rapid price swings, and a test of key technical levels following a strong rally and subsequent sharp pullback.