The post WTI declines below $59.50 as bearish outlook prevails appeared on BitcoinEthereumNews.com. West Texas Intermediate (WTI), the US crude oil benchmark, is trading around $59.25 during the Asian trading hours on Tuesday. The WTI edges slightly lower amid renewed US Dollar (USD) demand. Traders await the release of the American Petroleum Institute (API) crude oil stockpiles report later on Tuesday. Geopolitical risks and OPEC’s decision to leave output levels unchanged in the first quarter of 2026 might cap the downside for the WTI price in the near term. Ukraine carried out attacks on Russia’s energy infrastructure, resulting in the suspension of operations in Novorossiysk. Meanwhile, the Organization of Petroleum Exporting Countries and its allies (OPEC+) agreed on a pause in early November, slowing a push to regain market share amid worries of a supply glut. Technical Analysis: In the daily chart, WTI US OIL trades at $59.29. Price remains below the falling 100-day EMA at $61.55, maintaining a bearish broader bias. It has stabilized near the 20-day average at $59.24 on the Bollinger mid-line, indicating a pause in trend. The bands have narrowed, with the upper band at $60.80 and the lower band at $57.69, pointing to reduced volatility. The 14-day RSI at 49.10 is neutral, showing limited directional conviction. A close above the upper band could open a recovery toward the EMA, while a break under the mid-line would put the lower band in play. Near term, range conditions persist, with resistance aligned at $60.80–$61.55 and support at $59.24–$57.69. Holding above the mid-line would keep bids engaged and extend consolidation, whereas a daily close below it could carry losses toward the lower band. RSI hovering just under 50 suggests momentum is balanced; a firm move above 50 would bolster a test of resistance, while weakness would reinforce downside scope. Overall, a volatility expansion from the contracting bands would define the next directional leg. (The technical analysis… The post WTI declines below $59.50 as bearish outlook prevails appeared on BitcoinEthereumNews.com. West Texas Intermediate (WTI), the US crude oil benchmark, is trading around $59.25 during the Asian trading hours on Tuesday. The WTI edges slightly lower amid renewed US Dollar (USD) demand. Traders await the release of the American Petroleum Institute (API) crude oil stockpiles report later on Tuesday. Geopolitical risks and OPEC’s decision to leave output levels unchanged in the first quarter of 2026 might cap the downside for the WTI price in the near term. Ukraine carried out attacks on Russia’s energy infrastructure, resulting in the suspension of operations in Novorossiysk. Meanwhile, the Organization of Petroleum Exporting Countries and its allies (OPEC+) agreed on a pause in early November, slowing a push to regain market share amid worries of a supply glut. Technical Analysis: In the daily chart, WTI US OIL trades at $59.29. Price remains below the falling 100-day EMA at $61.55, maintaining a bearish broader bias. It has stabilized near the 20-day average at $59.24 on the Bollinger mid-line, indicating a pause in trend. The bands have narrowed, with the upper band at $60.80 and the lower band at $57.69, pointing to reduced volatility. The 14-day RSI at 49.10 is neutral, showing limited directional conviction. A close above the upper band could open a recovery toward the EMA, while a break under the mid-line would put the lower band in play. Near term, range conditions persist, with resistance aligned at $60.80–$61.55 and support at $59.24–$57.69. Holding above the mid-line would keep bids engaged and extend consolidation, whereas a daily close below it could carry losses toward the lower band. RSI hovering just under 50 suggests momentum is balanced; a firm move above 50 would bolster a test of resistance, while weakness would reinforce downside scope. Overall, a volatility expansion from the contracting bands would define the next directional leg. (The technical analysis…