WTI Crude Oil Price Forecast – March 11, 2025

WTI Crude Oil Technical Analysis and Short-Term Forecast

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WTI crude oil is struggling to take out the $65.22 swing low. A double bottom around $65.25 formed. This pattern’s confirmation point is the $68.22 swing high. The daily bullish KaseCD and MACD divergences confirmed at the $65.22 swing low are intact, and the wave up from $65.22 fulfilled its $65.1 smaller than (0.618) target. This wave connects to $68.3 as the equal to (1.00) target. Given these factors, the near-term outlook leans bullish. Closing above $68.2 will open the way for a more substantial correction and potentially a bullish reversal because the double bottom’s target is $71.3

That said, a larger move up from $65.22 will likely be a correction because the wave formation still favors an eventual test of $62.7. Furthermore, the wave down from $68.22 warns that the double bottom will fail, making this a tight call for tomorrow. Taking out the $65.4 smaller than target of this wave will call for a move below the double bottom to fulfill this wave’s $64.8 equal to (1.00) target. Settling below $64.8 will confirm a bearish outlook for the coming days.

Published by

Dean Rogers, CMT

Dean Rogers, CMT is the general manager of the Kase Call Center in Albuquerque, New Mexico. He oversees all of Kase and Company, Inc.’s operations including research and development, marketing, and client support. Dean began his career with Kase in early 2001 as a programmer but has developed into Kase’s senior technical analyst. He writes Kase’s award-winning weekly Crude Oil, Natural Gas, and Metals Commentaries. He is an instructor at Kase's classes and webinars and provides all of the necessary training and support for Kase's hedging models and trading indicators for both retail and institutional traders.