Market Analysis: Crude Oil Trends and Key Levels for Brent and WTI

WTI crude oil is currently valued at $85.08, showing a minor decline of 0.35%. The market hovers around the pivotal point of $85.01, crucial for the day's trading strategy. Resistance levels lie at $86.10, $86.83, and $87.81, posing challenges to bullish momentum.

In contrast, support levels at $84.09, $82.98, and $81.84 offer downside protection. The 50-day Exponential Moving Average (EMA) at $82.74 and the 200-day EMA at $79.99 support a bullish sentiment, suggesting potential further gains above the $85.01 pivot. However, there's a risk of a downturn if the price falls below this key level.

Brent crude is currently priced at $88.94, registering a slight decline of 0.33%. Positioned close to the pivot point of $88.75, it navigates the day's market fluctuations. The oil encounters resistance at $89.35, $89.91, and $90.65, suggesting potential price ceilings.

On the flip side, support levels are noted at $88.08, $87.31, and $86.52, highlighting areas where the price may find stability. The 50-day and 200-day Exponential Moving Averages (EMAs), at $87.40 and $85.58 respectively, along with an upward channel, indicate a bullish trend for Brent above $88.75. However, breaching this pivot could trigger a bearish shift in the market sentiment.