WTI CRUDE OIL: $95–97 Could Decide the Next Major MoveCrude Oil FuturesNYMEX:CL1!EdgeTradingJourneyWTI remains one of the markets I am watching closely as price approaches a key higher-timeframe area. From a technical perspective, my overall bias remains bullish. After breaking out of the major descending structure, WTI found strong demand around $68–74, where the weekly gap, ascending trendline and HTF demand converged. The reaction from this area has been strong, with price now trading around $90. My main focus is $94–97, where I see an important gap zone combined with buy-side liquidity above the recent highs. I want to see how price reacts there before taking a stronger directional view. The latest COT data supports the bullish structure. Non-commercial traders hold approximately 323K long contracts versus 200K shorts, leaving speculative positioning net long by roughly 123K contracts. Positioning is therefore constructive, but not at a level that makes me consider the market excessively crowded. Seasonality is where I become more cautious. September is mixed depending on the historical window, while the longer-term data becomes noticeably weaker moving into Q4, particularly in October and November. I don't use seasonality as an entry trigger, but in this case it adds an interesting element to the technical picture. Fundamentals are also currently supportive. US crude inventories recently recorded a larger-than-expected draw, while geopolitical tensions continue to maintain a significant risk premium in oil prices. This is also why I would not automatically short $94–97 simply because it is a gap zone. I need confirmation from price. My preferred scenario would be a move into $94–97, a sweep of the liquidity above the highs and then clear bearish displacement. In that case, I would look toward the $78–80 sell-side liquidity, with $72–74 remaining my main HTF demand area. A correction into $72–74 would not invalidate my bullish macro view. If buyers defend that area, I would consider it a potential base for another expansion toward $104–106 and eventually $118–120. On the other hand, if WTI establishes clear acceptance above $97, I would abandon the deeper retracement thesis and focus directly on $104–106, followed by the liquidity around $118–120.