WTI crude oil is currently priced at $79.81, showing a modest increase of 0.37%

WTI crude oil is currently priced at $79.81, showing a modest increase of 0.37%. The pivot point is positioned at $79.40, serving as a critical juncture that could indicate potential shifts in momentum.

Resistance levels are identified at $80.10, $80.80, and $81.65, delineating the obstacles WTI may encounter on its upward path. Conversely, support is noted at $78.66, followed by $77.70 and $76.84, offering potential support against any downward movements.

Technical indicators, specifically the 50-day and 200-day Exponential Moving Averages (EMAs) at $78.57 and $77.31 respectively, indicate a sustained bullish trend. These averages underscore a market poised for further upward movement, provided it remains above the pivotal $79.40 level.

However, a breach below this level could prompt a rapid selling trend. Ultimately, the overall trend for WTI remains bullish as long as it remains above $79.40.