WTI Analysis Today: November 12, 2026

 Technical Trends

• Short Term = Bearish
• Medium Term = Bearish
• Long Term = Bearish

Technical Review

On the Daily timeframe, Oil has repeatedly failed to break above the strong Resistance zone at 88.69–91.39, indicating that selling pressure continues to weigh on price action. As long as prices fail to stage a breakout above this resistance area, Oil has the potential to extend its decline toward the nearest Support zone at 79.63–77.06. This downward move may also form an ABC Correction pattern as part of an ongoing corrective phase.

Commodity Pick

Fundamental 

WTI crude oil prices retreated to around US$85.49 per barrel, down roughly US$1.04 or more than 1%, as markets weighed the prospect of easing geopolitical tensions in the Middle East and Russia-Ukraine. Hopes for peace talks reduced the risk premium associated with potential oil supply disruptions, while API data also showed a build of approximately 9 million barrels in US crude inventories, adding to oversupply concerns. Furthermore, OPEC+ output reportedly increased significantly in October, making the combination of rising supply and diminishing geopolitical risk a key fundamental headwind weighing on WTI prices. (Reuters)

 

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