Crude Oil Pivot Point: Hidden Demand at the $60 Level

Sellers have tried to push the price below this level several times, without success. Demand is present. This is an important pivot to the upside on the chart for bulls. Right now, this setup stands out as one of the most exciting crude oil charts — there’s a clear sense of complexity waiting to be resolved.

Testing Levels and Hidden Demand

The $60 level has been an important marker. Testing is occurring higher than before, showing additional spacing between attempts. Hidden demand is emerging in these areas, with selling deteriorating into exhaustion. From this point, the expectation was for a rally — and the market has indeed started to push higher.

Rally Attempts and Lack of Downside Commitment

Some recent bars on the chart are not especially strong, but the crucial detail is that there has been no real commitment to the downside, even when supply came in aggressively. The intention of the swing was to break the structure, but so far that break has not occurred.

Hidden demand has repeatedly stepped in to stop prices from falling further. This raises the possibility that selling may finally be exhausted in this zone, creating the conditions for a potential pivot point. The incoming demand is described as promising.

Volume and Continuation

A notable feature is a down bar with a decreasing volume signature. Despite that selling pressure, there has been no continuation to the downside — another sign that selling is losing strength while demand continues to appear.

Key Takeaways

• Sellers have tried several times to push price lower, but demand has held.

• The $60 level is a key point for the current crude oil pivot point.

• Selling pressure has deteriorated into exhaustion, with a rally now underway.

• Hidden demand is repeatedly stopping declines and could mark a potential pivot point.

• A down bar with decreasing volume has not led to follow-through selling.

Disclaimer: This content is for educational purposes only and should not be considered financial advice.