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    WTI crude oil closes at $63.30, with important support and resistance levels for traders

    by VT Markets
    /
    Sep 15, 2025
    WTI crude oil prices closed at $63.30, up $0.61 or 0.97%. During the day, prices ranged from a low of $62.52 to a high of $63.67.

    Technical Levels and Key Zones

    Prices are being influenced by important technical levels on the daily chart. On the downside, swing lows sit between $60.45 and $61.94. On the upside, the 61.8% retracement level since April’s low is at $63.71. The 100-day moving average is at $64.31, which may act as key resistance. These areas are significant for support, resistance, and potential breakouts for traders this week. In the past, when WTI crude hovered around $63.30, traders focused on breakout opportunities from key levels like the 100-day moving average. During those times, the market was indecisive, with both support and resistance holding steady, indicating a need for a catalyst to move in one direction.

    Recent Developments and Market Dynamics

    Today, the market is in a different situation as we see WTI testing the $95 mark. Recent news from OPEC+ confirmed they will keep production cuts in place until year-end, limiting supply. This is a notable change from the balanced technical scenario of previous years. Demand is also strengthening, especially from abroad. China’s Caixin Manufacturing PMI, an important measure of industrial activity, just reached a three-year high of 52.1, indicating a strong recovery and increased energy use. Additionally, the slow pace of refilling the U.S. Strategic Petroleum Reserve, after significant reductions in 2022, continues to support prices. For those trading derivatives, adopting a bullish outlook seems more fitting than waiting for a simple breakout. Buying call options with strike prices above the key $100 mark may capture upward momentum from current supply and demand trends. We are watching the previous high of $98.50 as the next important hurdle. Create your live VT Markets account and start trading now.

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