- WTI oil has charted the longest daily winning trend since June.
- Pullback risks would rise if trendline support at $61.00 is breached.
WTI oil is currently trading at $61.17 per barrel.
The black gold closed 0.33% higher on Thursday, confirming a six-day winning streak – the longest-daily winning run since June 2019.
Focus on trendline support
The trendline rising from lows near $55.40 is currently located at $61.00, as seen on the hourly chart.
A violation there will likely invite selling pressure and yield a drop to $60.00.
Put simply, the risk of WTI snapping the six-day winning trend would rise with the breach of trendline support.
On the flip side, defense of trendline may yield another leg higher toward $62.00
Hourly chart
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Trend: Correction risk
Technical levels
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