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Today Technical Analysis: Oil prices remain under pressure, WTI falls below $80 a barrel

June 16, 2026, 08:25
Today Technical Analysis: Oil prices remain under pressure, WTI falls below $80 a barrel

Brent Technical Analysis

Brent crude continues to exhibit a clear bearish trend characterized by lower highs, lower lows, and persistent selling pressure.

The moving average structure confirms the bearish trend. The 5-period moving average is positioned below the 10-period moving average, and both remain below the declining 20-period moving average. This bearish alignment reflects sustained downside momentum and demonstrates that sellers continue to dominate both the short-term and intermediate-term trend.

The $82.85 region is now acting as immediate support. A decisive break below this level would likely trigger another wave of selling pressure toward the psychological $82.00 level and potentially lower. Resistance is now found around $84.00–$84.50, followed by the declining 20-period moving average near $86.00. Brent would need to reclaim and hold above these levels before any sustainable recovery could be considered.

Brent 1H Chart

Resistance$84.50$85.90$87.22
Support$82.00$80.64$79.00

Gold Technical Analysis

Gold continues to demonstrate constructive bullish behavior after its sharp recovery from the $4,023 low. Following the strong reversal.

The moving averages remain positively aligned. The 5-period and 10-period moving averages are positioned above the 20-period moving average, while the 20-period MA continues to slope upward. This alignment confirms that the broader short-term trend remains bullish.

Price is holding above the $4,300 area and above the rising 20-period moving average, suggesting that buyers are defending gains. The relatively tight range following the rally is often indicative of accumulation before another directional move.

Resistance remains located at $4,369, which is the most recent swing high. A breakout above this level would signal renewed bullish momentum and could open the door toward $4,400 and potentially higher targets. On the downside, initial support is found around $4,300–$4,310, followed by stronger support near the 20-period moving average around $4,280–$4,290. As long as gold continues to hold above these support zones, the broader bullish recovery remains intact.

Gold 1H Chart

Resistance$4,375$4,420$4,500
Support$4,235$4,178$4,095

Dow Jones Technical Analysis

The Dow Jones remains in a well-established bullish structure with higher highs and higher lows, confirming that buyers remain firmly in control.

The moving averages continue to support the bullish narrative. The 5-period MA remains above the 10-period MA, while both averages are positioned above the 20-period MA. More importantly, the 20-period MA is still trending upward, indicating that the broader short-term trend remains positive despite the recent sideways movement.

Immediate support is located around 51,800–51,850. Below that, stronger support is found near 51,600 and then around the rising 20-period moving average. As long as price remains above these levels, the bullish trend remains intact. A decisive break above 52,050 would confirm the continuation of the uptrend and could expose the 52,250–52,500 region as the next upside objective. Only a sustained break below 51,600 would begin to weaken the current bullish outlook.

Dow Jones 1H Chart

Resistance52,05052,14052,200
Support51,48050,92350,726

Risk Disclaimer: This material is provided for informational purposes only and does not constitute a recommendation or investment advice. Trading financial instruments on margin involves substantial risk and may not be appropriate for all investors.

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