WTI remains under pressure as improving geopolitical sentiment and expectations of higher global supply continue to weigh on crude prices. Recent reports of renewed U.S. and Iran diplomatic progress, recovering Strait of Hormuz exports, and OPEC+ production increases have reduced the geopolitical risk premium that previously supported oil.

From a technical perspective, the 4H chart confirms a bearish market structure with multiple ChoCh signals, lower highs, and lower lows. Price has broken below key support and is now approaching a critical confluence zone around 72.77, where the rising trendline meets horizontal demand. A decisive break below this level could expose 70.47 as the next downside objective, while only a sustained recovery above 80.90 would invalidate the current bearish outlook.

Key Levels: Resistance: 80.90 and Support: 72.77 → 70.47

Bias: Bearish below 80.90. Watch for price action around trendline support before anticipating any reversal.