
Crude oil futures have experienced a sharp pullback from recent highs, with price action showing large, fast-moving bars and momentum to the downside. The short-term trend is decisively bearish, as confirmed by the WSFG and MSFG both trending down and price trading below their respective NTZ/F0% levels. The swing pivot structure has shifted to a short-term downtrend, with the most recent pivot high at 114.36 and the next key support pivot low at 80.00. Resistance levels are stacked above at 101.13, 108.13, and 114.36, while support is found at 81.68, 66.15, and 51.19. Short-term and intermediate-term moving averages (5, 10, 20-day) are all in downtrends, reinforcing the current bearish momentum, while longer-term averages (55, 100, 200-day) remain in uptrends, indicating the broader bullish structure is still intact. Volatility remains elevated (ATR 211), and volume is robust but not extreme. Recent trade signals reflect mixed activity, with both short and long entries triggered in the past week, highlighting the choppy and volatile nature of the current market environment. Overall, the market is in a corrective phase within a longer-term uptrend, with the potential for further downside in the short term as price tests lower support levels. The intermediate-term trend is neutral, reflecting the transition between the recent rally and the current pullback. The long-term outlook remains bullish as long as price holds above the major moving averages and key support pivots.