WTI crude futures traded near $88.00 per barrel on Thursday, having rallied more than 10% so far this week as OPEC+ agreed to cut output by 2 million barrels per day, the biggest output cut since the start of the pandemic. Yesterday the price broke above the major resistance zone around $87.60, which is marked with upper limit of the local 1:1 structure, downward trendline and 61.8% Fibonacci retracement of the upward wave launched in December 2021. As long as price sits above this level, upward move may accelerate towards next resistance at $92.75.
OIL.WTI, H4 interval. Source: xStation5
Daily summary: A historic day for precious metals; SILVER loses 30%; USD gains 💡
Has the precious metals bubble burst❓ SILVER dips over 33% in a single day 🚨
Three Markets to Watch Next Week (30.01.2026)
⏬Silver below $100, Gold breaches $5000