• The oil increases above 72 USD when Israeli-Iranian tensions cause a breakthrough.
• Profits in June are almost 20%, which reduces prices above key levels of Fibonacci from long -term movements.
• The 12-month movable average provides additional support below 70 USD.

WTI crude oil is growing among the escalation of geopolitical tensions, and Israel’s last strikes in Iran drive a rally, which exceeded the prices of over 74.00 USD on Friday. At the time of writing, WTI trades slightly below $ 72.00 after Iran answered his own rocket wave, marking almost 20% profit in June and turning most of the weaknesses observed at the beginning of this year.

Despite the broad pressure in the first half of 2025, the last boost in prices raised WTI above several key technical levels, with stubborn rush in many time frames.

Long -term WTI oil configuration

From a long-term perspective, WTI has recovered a 12-month straight movable average (SMA), which is currently 69.46 USD. This level now serves as vigorous support. Above, resistance from 23.6% of Fibonacci withdrawal of the amount of March 2022 to the low April 2025, located at 71.71 USD.

Wti oil monthly table

Medium -term WTI oil configuration

On the weekly chart of WTI, it crashed over 12-week SMA after USD 63.29 after Iran-Israel escalation, marking a key change in moods. This boost brought prices to 78.6% of Fibonacci breath of January and April to 74.11 USD. The 12-week SMA still offers support for nearly USD 63.31, emphasizing a sturdy base for bulls.

Wti oil weekly table

Short -term WTI oil configuration

By enlarging the Daily Chart, the Friday’s stubborn shoot led the decisive movement of over 100-day and 200-day SMA, strengthening the case for further advantage. Technical fugitives with long -term Fibonacci levels boost the credibility of the breakthrough.

The relative force indicator (RSI) in the daily time is currently 76, signaling the purchased conditions. However, with the intensification of the geopolitical background, fundamental support can ultimately win due to brief -term exhaustion.

Daily WTI oil chart

Looking to the future: what next with oil?

If WTI breaks and stays above USD 74.11 at the beginning of next week, the momentum can transfer it to $ 76.00, and ultimately $ 78.00. And vice versa, no levels of levels above 71.71 USD may cause withdrawal, especially if geopolitical tensions make it easier or if the market focuses on fears on the demand side.