Chart of the Day - Wednesday, June 11, 2025

🏆  Today's Chart of the Day was shared by Michael Kahn (@mnkahn). 
 

• Crude Oil had its best session since October today, with futures rising +4.9% to a two-month high of $68.14 per barrel. 
   
• Michael points out that Crude has breached a potential inflection point at $65, representing the intersection of a 5-month downtrend line and horizontal resistance. 
   
• $65 acted as support for nearly two years before breaking down and turning into resistance in March. A sustained move above $70 could spark a summer rebound for Crude, as this would confirm a Failed Breakdown.
   

The Takeaway: Crude Oil had its best session of the year today after clearing an inflection point at $65. Reclaiming $70 would solidify a Failed Breakdown and set the stage for a summer rally.