Highlights

  • WTI crude oil CFDs last traded at USD 97.08 on the supplied 1-hour chart.
  • The latest candle gained +0.42 (+0.43%) from its displayed comparison value.
  • The candle opened at USD 96.61 and reached a high of USD 97.15.
  • The hourly low stood at USD 96.61, matching the opening price.
  • The chart showed an SMA of USD 96.47, below the latest price.
  • The displayed RSI stood at 38.25 after a steep decline and partial recovery.

West Texas Intermediate (WTI) crude oil CFDs showed a modest hourly recovery on 3 November 2026 after a pronounced retreat on the supplied TradingView chart. At 10:18 UTC+5:30, the displayed price was USD 97.08, with the latest hourly candle showing a gain of +0.42 (+0.43%). The move lifted the price above the chart’s SMA at USD 96.47, although the RSI remained at 38.25. The chart records a rebound in a market that had recently fallen from higher levels, without identifying a fundamental catalyst for that move.

Source chart, November 3 2026

WTI Oil Rebounds After a Sharp Hourly-Chart Slide

The chart traces a rise towards the end of October, followed by an abrupt downturn into early November. The recent candles then show price stabilising near the lower part of the visible range and edging higher. The latest hourly candle opened at USD 96.61, held the same level as its low, and traded as high as USD 97.15 before the displayed price settled at USD 97.08. This is an intrahour reading, not confirmation of a full-day advance.

Price Action Takes Centre Stage

The market information supplied with the chart contains no inventory releases, production figures, trade data, interest-rate announcements or geopolitical developments. Accordingly, the direction of the move cannot be attributed to a particular Supply or Demand event. Instead, the observable story is a steep recent fall followed by a limited recovery. The price has moved above the displayed moving-average reading, but remains below the higher levels seen earlier in the chart window.

Technical Outlook: Crude Oil

The latest WTI CFD quote stood at USD 97.08, compared with the candle’s opening price of USD 96.61, high of USD 97.15 and low of USD 96.61. The displayed SMA was USD 96.47, placing the current price above that line. Its calculation period is not identified in the image, so it cannot be described as a 21-day SMA. The chart’s RSI was 38.25, below the neutral midpoint of 50 and above the conventional oversold threshold of 30. This suggests weak underlying momentum despite the recent hourly uptick.

Key Levels to Watch

The image does not label formal support or resistance levels. As observable references, the latest candle’s low of USD 96.61 marks the lower boundary of the displayed hourly range, while USD 97.15 marks its upper boundary. The SMA at USD 96.47 is another visible technical reference below the current price. These levels describe the chart rather than independently established support or resistance zones; the image does not justify projecting a breakout or reversal.

Summary

WTI crude oil CFDs recovered to USD 97.08 on the latest hourly candle, up +0.42 (+0.43%), after a visible decline in recent sessions. The price was above the displayed SMA of USD 96.47, while RSI at 38.25 continued to indicate relatively subdued momentum. With no accompanying fundamental developments provided, the article’s assessment is limited to those observable price and technical signals.