Crude oil corrected higher today, but stalled near 50% midpoint near $66.33 | Forexlive

Crude oil settled at $65.24, up $0.32 on the day. The market traded between a low of $64.70 and a high of $66.39, with the session high coming just above a key technical level—the 50% midpoint of the move up from the April low to the June high, which sits at $66.33.

The price briefly tested and rejected that midpoint level, reinforcing its technical importance going forward. As long as the market remains below $66.33, the bias tilts to the downside.

On the downside, focus shifts to the support area between $63.67 and $64.63—a zone marked by multiple swing levels dating back to April (see red numbered circles). Notably, the 61.8% retracement of the April–June rally also sits at $63.67, strengthening the area’s role as key support.

For now, crude continues to consolidate between well-defined resistance and support, following the sharp declines seen earlier this week. A break of either boundary will likely define the next directional move.