West Texas Intermediate (WTI) Oil trades modestly higher on Tuesday after two-way price swings, as headlines from the Middle East keep energy markets volatile. At the time of writing, WTI trades around $82.13, up more than 7% so far this week. Against this backdrop, a geopolitical risk premium remains embedded in Oil prices, while the technical picture also leans bullish. Technical analysisOn the daily chart, WTI Oil retains a constructive near-term bias as it holds slightly above the 21-day Simple Moving Average (SMA) at $81 and comfortably above the 50-day SMA at $78. On the downside, the 21-day SMA at $81.33 offers immediate support, followed by the 50-day SMA at $78.79.