At the time of writing, the US benchmark is trading around $65.20 a barrel, consolidating after touching an intraday high near $66.24. From a technical perspective, the daily chart has turned constructive, with WTI breaking decisively above a descending channel and reclaiming its key moving averages. Price is now holding above the 50-day, 100-day, and 200-day Simple Moving Averages (SMAs). The Relative Strength Index (RSI) is hovering near 70, pointing to strong upside momentum, though overbought conditions warn that the rally could pause or consolidate in the near term. On the downside, the 200-day SMA near $61.90 acts as immediate dynamic support, ahead of the key psychological $60.00 level.