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Crude oil nears key support after breaking 200-day average, showing signs of potential rebound from oversold levels.

Market News
25 Jun 2026
FXEmpire
View Source
Neutral
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Crude oil prices have fallen below the 200-day moving average, reaching a corrective low near $69.87, about 41.7% below the March peak of $119.54. The price is approaching a critical support zone around $67 to $68.81, marked by the 78.6% Fibonacci retracement and a falling trendline. Despite recent declines, oversold momentum conditions indicated by the Relative Strength Index suggest a possible stabilization and recovery. If crude oil reclaims the 200-day average and confirms support near this zone, it could signal the end of the bearish correction and the start of a new upward trend.

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