WTI Oil: Key levels for long-term buyingWest Texas OilOANDA:WTICOUSDAlexeyWolfThis analysis is based on the Initiative Analysis (IA) method. Hello traders and investors! I reviewed the higher timeframes for oil, and the 2-month chart shows an interesting structure. Price is moving within a very wide sideways range, roughly from $11 to $147. The lower boundary of this range has already been defended by buyers in the past — in 2016 and again in 2020-2021. At the moment, seller initiative dominates within this range, with a potential target around 48.52. The 48.52 level represents the upper boundary of a buyer zone that has not yet been tested. This zone was formed by a high-volume candle, which adds to its significance. The base of that candle — the 47.071–48.52 range — is an area where it makes sense to look for long-term buying patterns. The 42.206 level is even more attractive for identifying long-term buying opportunities. The first target for long-term long positions, if this scenario plays out, is 95.501, which corresponds to a test of the seller zone. Wishing you profitable trades!