Crude Oil Technical: Price Tests $65 Resistance After Range Break

WTI Crude Oil futures are testing critical resistance at $65 after a brief pierce above this level, triggering stops from short sellers and trapping breakout buyers in a classic false breakout pattern. The commodity has been consolidating within a wide $52-$65 range between April and June 2025, with volume profile analysis revealing concentrated institutional activity within this zone. The recent test of upper resistance suggests algorithmic traders are actively defending this level, making it a key pivot point for directional bias. Technical indicators show price action remains constrained by the established range, with the value area highlighting where major market participants have positioned themselves. Traders should monitor for a decisive break above $65 with volume confirmation for bullish continuation, while failure to hold above this level could see a retracement back toward the $58-$60 mid-range support zone.