WTI Crude Oil

WTI was trading inside a broad 4H range after recovering from earlier lows. Price was near the middle of the working range, while the higher-timeframe context remained slightly bullish. Momentum was improving, but the market had not yet confirmed a directional breakout.

AXOVIO identified the 4H market as compressed and range-bound, with no clear swing setup at the time of the analysis. Continued movement inside the existing range was considered the better-supported near-term path. A sustained move above the 104.23–105.27 resistance area would strengthen the bullish case, while acceptance below the 95.17–96.21 support area would shift the structure toward bearish continuation.

WTI initially remained inside the broader 4H range, but the market then moved sharply higher. By October 23, price had advanced above $102 and reached approximately $103.3 intraday, moving toward the upper boundary of the range. The bearish invalidation scenario below the $95.17–$96.21 support area did not materialize. However, price also remained below the $104.23–$105.27 resistance area identified in the original analysis as the level required for bullish confirmation. The market therefore shifted toward the bullish side of the range, but the original breakout condition had not yet been confirmed.