Crude Oil: A Technical Setup Worth WatchingCrude Oil FuturesNYMEX_DL:CL1!The_STAHey everyone — quick crude oil update from Karen Jones, Content Creator for the Society of Technical Analysts. Crude is starting to look interesting from a technical perspective. On the daily chart, price is holding above the 200‑day moving average, and momentum is pushing into the 50% retracement at 66.77 (measured from the July 2023 decline). A sustained close above this level would be a constructive signal that a base is forming. But the weekly chart is where things get even more compelling. The lagging line (Chikou Span) on the Ichimoku Cloud is beginning to break above price — an early positive. A confirmed bullish signal would come if: - Price breaks above the cloud (top near 68) - The lagging line also clears the cloud If that happens, the next logical upside target sits near the 200‑week moving average at 75.83. For now, while crude holds above the 200‑day MA at 62.44, the broader structure suggests a potential longer‑term base is forming. One to keep firmly on your radar. Disclaimer: The information posted on Trading View is for informative purposes and is not intended to constitute advice in any form, including but not limited to investment, accounting, tax, legal or regulatory advice. The information therefore has no regard to the specific investment objectives, financial situation or particular needs of any specific recipient. Opinions expressed are our current opinions as of the date appearing on Trading View only. All illustrations, forecasts or hypothetical data are for illustrative purposes only. The Society of Technical Analysts Ltd does not make representation that the information provided is appropriate for use in all jurisdictions or by all Investors or other potential Investors. Parties are therefore responsible for compliance with applicable local laws and regulations. The Society of Technical Analysts will not be held liable for any loss or damage resulting directly or indirectly from the use of any information on this site.