Oil futures chart recent oil futures chart patterns

Recent oil futures chart patterns confirm a bullish flag formation in Brent contracts. Technical traders are eyeing a possible rally toward $88.50 per barrel should U.S. demand indicators remain strong. December micro WTI crude oil (CLZ25) futures present a selling opportunity on more price weakness. Strategists also flagged a shift in sentiment among institutional forecasters. Onyx Capital's Jorge Montepeque highlighted that several major banks, including Macquarie, are now projecting the possibility of a “super glut” in crude. This aligns with broader concerns that oil markets could be heading into a structurally oversupplied environment if production rises into weakening demand. Brent’s oil futures chart shows Bollinger Bands widening, suggesting higher volatility ahead. Swing traders may find breakout opportunities on either side of the price range.