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WTI Technical Analysis - Crude Oil Eases Its Overnight Rally, But What's Next?
2026-05-16 · via All Articles on Seeking Alpha

Summary

  • WTI oil kept rising throughout the week with a continuous status quo in the Middle East.
  • While the Trump-Xi meeting is ongoing, the US-Iran situation is frozen, hence traders are preparing for the next phase of the trade.
  • Exploring an in-depth technical analysis of crude oil.
Oil pumpjacks at sunset with financial charts overlay.

peshkov/iStock via Getty Images

By Elior Manier

WTI crude oil (CL1:COM) prices have been climbing this week as tensions in the Middle East show no signs of change.

Even though President Trump and Chinese President Xi Jinping are meeting, the

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