WTI Tests 2025 Highs on Strait of Hormuz RisksUs Crude Oil CFDFOREXCOM:USOILFOREXcomWTI gapped above the 70 mark, reaching a high near 75.30 before reverting toward 72. From a technical standpoint, traders may look at a potential gap-closing move into the 68–69.30 zone as a corrective scenario should prices fall back below 72. A further close below 68 would expose the upper boundary of the 2.5-year down trending channel in place since September 2023, opening the debate between a bullish rebound attempt or broader bearish reassertion. On the upside a sustained close back above 75 would expose the 79 region, echoing the 12-Day Iran War move of 2025. A sustained break above 80 would challenge the longer-term bullish structure. Failure there could rotate price action back toward glut risks and the 70–60 mean zone. The RSI is rising toward levels last seen in September 2023, suggesting upside momentum may face technical limitations, should fundamentals align. - Razan Hilal, CMT