WTI Technical Analysis: Charts longest winning run since June, $61 is key support

• WTI oil has charted the longest daily winning trend since June. 
• Pullback risks would rise if trendline support at $61.00 is breached.

WTI oil is currently trading at $61.17 per barrel. 

The black gold closed 0.33% higher on Thursday, confirming a six-day winning streak - the longest-daily winning run since June 2019. 

Focus on trendline support

The trendline rising from lows near $55.40 is currently located at $61.00, as seen on the hourly chart. 

A violation there will likely invite selling pressure and yield a drop to $60.00. 

Put simply, the risk of WTI snapping the six-day winning trend would rise with the breach of trendline support. 

On the flip side, defense of trendline may yield another leg higher toward $62.00

Hourly chart

Trend: Correction risk 

Technical levels