Crude Oil (WTI) | Buyers Are Defending a Critical Monthly ZoneCrude Oil FuturesNYMEX:CL1!EdgeTradingJourneyAfter several months of selling pressure, WTI Crude Oil has finally reached an area where higher time frame buyers are beginning to react. While many traders remain focused on the recent bearish momentum, I believe the current technical picture deserves much closer attention. On the monthly chart, price is testing a confluence of institutional factors: Major Monthly Demand Zone Unfilled Monthly Gap Rising long-term trendline support Previous breakout area now acting as support This combination creates a high-interest zone where a medium-term reversal could develop. Technical Perspective Although the broader trend remains corrective, I don't see an attractive location to initiate fresh shorts after such an extended decline. Instead, I'm watching whether buyers can continue defending the 68–74 USD area. The first key obstacle sits around 84–85 USD. A confirmed monthly close above this level would significantly improve the bullish structure and could open the path toward: 92 USD 100 USD 105 USD COT Report The latest Commitment of Traders report suggests a relatively neutral positioning. Non-Commercial traders have reduced both long and short exposure, while Commercial participants remain net short, which is fairly typical for the crude oil market. Open Interest has declined by more than 30,000 contracts, indicating that recent price action has been driven more by position liquidation than aggressive institutional accumulation. In my opinion, the COT data is not yet confirming a strong bullish trend, but it also doesn't support the continuation of an aggressive bearish move. Seasonality Seasonality provides another interesting piece of the puzzle. Historically, July has not been one of the strongest months for crude oil, with most long-term datasets showing either flat or slightly negative average performance. This suggests that even if my long-term bullish thesis remains valid, price could still experience short-term volatility or another retracement before a larger directional move develops. My Trading Plan At this stage I'm monitoring two possible scenarios. Scenario 1 (Preferred) Price extends higher into the 84–85 USD resistance before retracing back toward 74–76 USD, where I would look for fresh buying opportunities if price confirms institutional demand. Scenario 2 If buyers manage to reclaim and close decisively above 84–85 USD, I will assume that the correction has already ended and begin looking for continuation opportunities toward the next higher-time-frame liquidity targets. Key Levels 🟢 Support 68–70 USD 72–74 USD 🔴 Resistance 84–85 USD 92 USD 100 USD 105 USD